We are now officially a Community Amateur Sports Club!
Sounds impressive, but what does that mean?
The Community Amateur Sports Club (CASC) scheme was introduced in 2002 as an option for sports clubs to register with HMRC to receive 'charity type' tax reliefs provided the club meets certain qualifying conditions,
Including:
being open, without discrimination, to the whole community,
be non-profit making,
have its main purpose the provision of facilities for, and the promotion of participation in Ju Jitsu,
have costs that do not represent a ‘significant obstacle’ to participation, and
where the directors are ‘fit and proper persons’.
And in practical terms?
Well, it means that we have passed a number of significant checks by the government to show we are a genuine and bona fide sports club whose purpose is to encourage participation in our martial art of Ju Jitsu in our own Masters of Martial Arts Academy in the centre of Blackburn.
In terms of benefits, we are eligible for an 80% reduction in our business rates, can claim gift aid (an extra 25%) on donations made to the club, and can claim exemption from corporation tax on certain trading profits – meaning that more of the money we raise is available to be spent on equipment, the building and supporting our students.
Lots of hoops to pass through and hurdles to jump, but we got there!