I have just found out that the rules relating to Community Amateur Sports Clubs have changed and existing CASCs have until April 2016 to prove they comply. One of my clubs is a CASC and I know of one other caving CASC, but are there others? This change is likely to have serious consequences for my Club so it might be good to put heads together.
A basic summary seems to be that the Club will need to be able to prove that 50% of its membership is active (which is defined as spending at least 12 days per year on the main club activity i.e. caving ... committee meetings and hut maintenance count, but socials do not). If they no longer meet this criteria, they have until April 2016 to tell HMRC and be allowed to leave (i.e. sell all their assets to a charity or another CASC) without being eligible for Capital Gains Tax.
Changes are summarised here.
A basic summary seems to be that the Club will need to be able to prove that 50% of its membership is active (which is defined as spending at least 12 days per year on the main club activity i.e. caving ... committee meetings and hut maintenance count, but socials do not). If they no longer meet this criteria, they have until April 2016 to tell HMRC and be allowed to leave (i.e. sell all their assets to a charity or another CASC) without being eligible for Capital Gains Tax.
Changes are summarised here.