Are Thornbury Sports Clubs Missing Out On Their Share Of Tax Savings?

By jmitchell27 | Friday, January 22, 2010, 16:25

Sports Clubs in Thornbury could be missing out on a large share of tax savings according to Sports Minister Gerry Sutcliffe.

Yesterday Sutcliffe announced that membership in the Community Amateur Sports Club (CASC) scheme could enable thousands of amateur sports clubs to save a large amount of money through tax benefits.

The CASC currently has over 5,500 clubs registered with the scheme, including Thornbury Cricket Club, Thornbury Lawn Tennis Club and Thornbury Rugby Football Club, but many other local sports clubs could be eligible to join the scheme - which provides tax advantages such as relief to business rates and the potential to reclaim Gift Aid on certain donations.

To be eligible for this scheme the clubs must encourage participation in a qualifying sport that is open to the whole community and which ensures that it's profits are reinvested in the club.

CCPR’s (Central Council of Physical Recreation) Chair Brigid Simmonds said:

“Thanks to the CASC scheme, thousands of sports clubs have received a boost from the taxman; in fact over £60 million has been saved by the 5,500 clubs already registered. Through registering as a CASC, clubs can keep the money they have raised in the community. That means it can be re-invested in kit, in coaching and in facilities - all for the good of local sport."

So if you are involved in a club that you feel may qualify for the CASC scheme, check out the guidance notes and see what it might be able to do to benefit your local sports club.