Community Amateur Sports Club (CASC) Policy

AFC Lightning Community Amateur Sports Club (CASC) Policy

1) A key step in managing our finances soundly by using benefits on offer from the Inland Revenue

2) Providing commitment to the strong governance principles

How does AFC Lightning benefit from being a CASC?

The Inland Revenue’s tax concessions for Community Amateur Sports Clubs were introduced in April 2002. The major benefits are:

  • All interest income and capital gains are exempt from corporation tax
  • Property and fund raising income is exempt from corporation tax up to certain limits
  • Individuals can claim gift aid and inheritance tax relief in respect of monetary contributions/gifts to the club
    – income tax relief on the gift resulting in a tax repayment for a higher rate taxpayer of £23 for every £100 given
  • The clubs can reclaim income tax on contributions received under gift aid.
    – a tax refund for the club of £28 for every £100 donated

The main conditions for registration were:

  • Membership must be open to the whole community.
  • The club’s facilities must be available to all members without discrimination.
  • The club’s rules/constitution must prevent the distribution of profits to members i.e. funds must be reinvested into the club.
  • Club members cannot be paid for playing, although they can receive payment for providing other services to the club such as coaching.
  • Membership categories and fees must be reasonable and should not be a barrier to open membership.
  • An irrevocable commitment to retain assets within the sport
  • Once a CASC always a CASC (you cannot de-register)

AFC Lightning in order to satisfy the requisite entry criteria the Management Committee elected to amend its constitution click here for details. This is not the last step in the ongoing background management to ensure AFC Lightning maintains a sound and effective financial footing.