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Term of the day

community amateur sports clubs (CASC)

The CASC scheme was introduced in Finance Act 2002 and enables local amateur sports clubs, subject to certain conditions, to register with HMRC and to benefit from a number of tax reliefs including gift aid, an exemption from corporation tax where profits are less than £30,000 and non-domestic rates relief.

The conditions for becoming a CASC include the requirements that the club is open to the whole community, is organised on an amateur basis and is established to provide facilities for one or...