I am please to tell you that after much hard work the club have finally been registered by HMRC as a Community Amateur Sports Club, with our registration back dated to 1st April 2014. Being a CASC registered club offers significant benefits to the club, including:

80% mandatory business rate relief. Local authorities can offer up to 100% relief to clubs at their discretion.
The ability to raise funds from individual donations under Gift Aid. A registered CASC can reclaim up to £25 in tax for every £100 donated.
Tax free income from interest and capital gains (used for qualifying purposes).
CASCs are exempt from Corporation Tax on profits derived from trading activities if their trading income is under £50,000 pa.
Profits derived from property income are also exempt for CASCs if gross property income is under £30,000 pa, of particular relevance following the abolition of the nil rate band.
CASCs whose income does not exceed these thresholds will no longer be required to complete an annual Corporation Tax return.

It will take sometime for all of these benefits to be realised and we may have to re-structure the club, as we agreed to explore at the AGM, to achieve them all and fully comply with the CASC regulations. I will be keeping you all up to date with our progress over the next few months.

Finally well done to everyone involved, especially John Makowski who started the application process last year.

UTM

Regards

John