The Community Amateur Sports Club Scheme (CASC)
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13th August 2007
There is a scheme called the Community Amateur Sports Club Scheme (CASC) that means your club can get rate relief and claim back gift aid on donations or from fundraising.
Eligible sports clubs are given a range of tax relief’s similar to those enjoyed by charities, without taking on the full regulatory responsibilities imposed on charities. This includes in particular the ability to claim Gift Aid on donations of 28p on every £1 donations made to the club, mandatory rate relief at 80% and exemption from Corporation Tax and Capital Gains Tax under certain conditions.
By March 2007, the CASC scheme had 4267 registered sports clubs. The cash benefit of the scheme to date has been estimated at £18.5 million - this is money that has been kept in the sector for the development of community sport and has enabled clubs to spend it on everything from facilities to kit.
CASC clubs get exemption from corporation tax on bank and building society interest, on profits from trading and fundraising where gross income is less that £30,000 per annum, and on income from property where gross income is less than £20,000 per annum. Plus exemption from corporation tax on chargeable gains.
A website has been set up about CASC, it can be accessed at www.cascinfo.co.uk.
Visit out Clubs & Club Development pages for more information.