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12-02-07, 10:56 PM
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| Community Amateur Sports Clubs I've heard that it can be worthwhile for clubs to register as a CASC with the Inland Revenue. Has anyone's club done this? Is it worthwhile, and are there any hidden snags?      |
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16-02-07, 04:30 PM
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| Casc Pity your post has had no replies, Tommy! I'd be interested in any hidden snags, too. We're moving slowly towards registering as a CASC, but haven't done it yet. If you are paying rates or in the position of being liable for tax, then there are obvious benefits of registration. You may have to make some changes to your Club Constitution to be elegible - to clarify non-discriminatory membership, and covering disposal of assets on winding up, for instance. We made those changes at our last AGM. If there are hidden snags then they are very well hidden! Once registered it is not possible to de-register - that could be a snag, but only if there are snags that would make you want to! John |
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16-02-07, 11:05 PM
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| since our club doesnt own its own grounds, nor has a big enough turn over to worry about tax, the biggest advantage to us is GIFTAID. When a person makes a cash donation to your club, you can claim back the tax that that person paid on their donation. So a donation of £10 becomes worth about £13 to your club. The donations have to be genuine donations, not payment for membership or services, but if you are lucky enough to have generous patrons..... |
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