Reminder that the CASC rules have changed

Urgent reminder to all CASCs registered before 1st April 2015 that you have until 1st April 2016 to check your club meets the new rules which came into force on 1st April 2015. Around half of all CASCs mainly in the sports of football, lawn tennis, cricket and golf were sent a ‘self assessment checklist letter’ by HMRC during the summer which must be replied to. Other CASCs still need to check they comply with the new rules.

CASC compliance

Existing CASCs are currently checking their compliance with the new rules particularly in respect of the income test and trading subsidiaries, the cost of participation and satisfying the 50% participation test. In addition, HMRC are currently reconsidering their view on life and honorary memberships for CASCs.

25 years of Gift Aid

This year sees the 25th anniversary of the Gift Aid scheme. CASCs can benefit from receiving Gift Aid on donations. 25p in the £1 can be claimed from HMRC subject to the conditions of the Gift Aid scheme being met. If a CASC is using the Gift Aid scheme at a specified level and subject to certain conditions, the club can also claim 25p in the £1 on small cash donations under the Gift Aid Small Donations Scheme. These are two great ways for your CASC to generate much needed funds.

Value of the CASC Scheme 

The number of sports clubs registered as CASCs has increased to 6,707 as at the end of March 2015. These clubs have claimed an estimated cumulative minimum cash benefit of £187.1million (Source: www.cascinfo.co.uk - Monthly analysis of CASC registrations) since the scheme began highlighting the significant contribution the CASC scheme provides to community sport.

Gift Aid Donor Benefits

The Government is to simplify and improve the Gift Aid Donor Benefits rules to make it easier for CASCs to claim Gift Aid and maximise the amount of Gift Aid claimed on eligible donations. In order to do this it is asking for factual evidence from sport about what problems and barriers the existing rules cause and how they might be improved. This information will be used to base a consultation on later in the year. Please contact us as soon as possible if you would like contribute.

For further information please see www.cascinfo.co.uk. If you have a query or would like to sign up to the Newsletter please contact us.