TAX SERVICES FOR CASCs
The rules for Community Amateur Sports Clubs are changing, we can help managers of large amateur sports clubs meet the new requirements which apply from 1 April 2014.
The Community Amateur Sports Club (“CASC”) regime is intended to deliver £100m a year of funding to amateur sports clubs in the form of tax reliefs and exemptions. The rules relating to qualification as a CASC are changing from 1 April 2014 and a twelve month transitional period is about to commence.
We have assisted CASC’s running sports clubs such as Golf Clubs, Rugby Clubs and Cricket Clubs to review their trading activities to ensure that they meet the new requirements and to ensure that they continue to benefit from the generous tax reliefs offered by the CASC regime.
Our specialists can help your CASC with :
- The requirements under the new CASC regime, including those which apply from 1 April 2014, are considered before the end of the transitional period
- Any areas where the new rules are not met are identified and a strategy is developed to enable the CASC to continue to meet the requirements
- If the review identifies that a trading subsidiary is necessary for activities with non-members, we can assist the CASC to establish that subsidiary and transfer appropriate trading activities
- Opportunities to use Gift Aid are maximised by the CASC
- Opportunities to structure the CASC so that it can benefit from investment under the Social Investment Tax Relief are considered
- Statutory accounting requirements are managed in an efficient manner using leading software such as Xero or Sage
- Employment taxes and pension requirements and costs for the CASC are pro-actively managed.
Click here to view our blog post on the new CASC rules, enacted on 18th December 2014.
Your CASC status
Can you meet the new requirements from April 2015?