20 Jun 2022
The Community Amateur Sports Clubs 'CASC' scheme was first introduced in April 2002 and allows for many amateur sports clubs to register with HMRC thereby benefiting from a range of tax reliefs, including gift aid.
The main conditions necessary for an amateur club to be classified as a CASC are as follows:
CASCs can earn up to £100,000 a year in trading income from non-members and property income. There is no limit on the amount of trading income a CASC can earn from its members (except in relation to the property cap). A CASC can also benefit from an annual tax-exempt threshold of £50,000 for trading profits and £30,000 for property rental income. The list of sports clubs registered with HMRC as a CASC has recently been updated.
Will you be one of the 56,000?
This is your last year to claim the super-deduction of 130%.
Completing P11D forms to report benefits in kind