GORDON BROWN – BENEFACTOR OF CROQUET CLUBS?
The April 2002 Budget, allows Community Amateur Sports Clubs (CASC) to be granted charitable status for tax pruposes. This means CASC’s (your club should be one) are exempt from tax on income from a range of sources such as fundraising, interest, rents, disposals, Gift Aid, donations, etc.
Gift Aid may apply to Subscriptions in which case clubs can claim substantial tax relief backdated to 1 April 2002.
CASC’s must be open to the whole community, organised on an amateur basis, and their main purpose must be to provide facilities for, and promote participation in, an eligible sport. Eligible sports will initially be defined with reference to those recognised by national Sports Councils.
More details: www.hm-treasury.gov.uk