The Community Amateur Sports Club (CASC) Scheme was introduced in April 2002. It allows local amateur sports clubs to register with HM Revenue and Customs (HMRC) and benefit from a range of tax reliefs.
A summary of the CASC reliefs and benefits are shown below – alongside those which could be enjoyed if your Club were to opt for charitable status instead. Charitable status does however bring its own additional regulatory issues.
|Corporation Tax on interest||Exempt||Exempt|
|Corporation Tax on trading income||Up to £50,000 of turnover and all primary purpose trading income exempt||Exempt if turnover is no more than £50,000 per year|
|Corporation Tax on income from property||Exempt||Exempt if rent is no more than £30,000|
|Capital Gains and Corporation Tax on disposal of assets||Exempt||Exempt|
|Gift Aid||Gift aid on donations made by individuals and companies.
(NB Gift aid may be available on all or part of subscriptions depending on the benefits received)
|Gift aid only available on donations made by individuals and not on subscriptions.|
|Inheritance Tax||Inheritance Tax reliefs||Inheritance Tax reliefs|
|Gifts of assets||Gifts of assets on a no-gain, no-loss basis for capital gains||Gifts of assets on a no-gain, no-loss basis for capital gains|
|Gifts of trading stock||Relief on gifts of trading stock||Relief on gifts of trading stock|
|Gifts of shares||Income Tax relief on gifts of shares||No Income Tax relief on gifts of shares|
|Rates Relief||80% mandatory relief if property used wholly or mainly for purposes of the charity + 20% relief at the discretion of the local authority||80% mandatory relief if property used wholly or mainly for purposes of a registered CASC + 20% relief at the discretion of the local authority|
|Payroll Giving||Payroll giving possible||No payroll giving|
|VAT relief||Specific reliefs available (see HMRC website for more details)||No specific relief. Exemptions possible (see HMRC website for more details)|
|Stamp Duty Land Tax||Exempt||Payable|
If you would like more information about CASC and your Club, please do not hesitate to contact us.