Following a consultation, the Treasury have announced a broad range of positive changes to the CASC regime which will be implemented from 1 April 2014 including:
- The ability for companies to make tax deductible donations to CASCs
- Clubs generating a higher level of income (over £100,000) from non-members will need to consider setting up a trading subsidiary
- Increases to the trading and rental income a CASC can receive without tax arising
- The ability to have a number of paid players, up to a total “paid” of £10,000 a year
- Increases in subsistence and tour expenses which can be paid to players
However, the changes will require clubs who charge more than £520 a year in membership fees to offer membership packages for persons on lower incomes. In addition, the proposed changes will come with a requirement that existing CASCs either adhere properly with the new rules or deregister!
In light of the announced changes, Tait Walker along with Muckle LLP will be holding a FREE seminar covering:
- The accounting and legal impact of the changes, including how they will affect the tax and VAT obligations of your club
- How your club can obtain the maximum benefit of the existing and new provisions for CASCs.
- A comparison charitable status and the new CASC status
- Alastair Wilson – Tait Walker LLP
- John Devine – Muckle LLP
- 8.30am – Breakfast and registration
- 9.00am – Presentations
- 10.30am – Q & A and close
To register or for more information please contact Kirsty Ramsey from Tait Walker on
0191 285 0321 or email [email protected].