| The Labour MP for Cardiff West, Kevin Brennan, has welcomed a Government initiative that will provide tax relief for Community Amateur Sports Clubs (CASCs). The scheme, which recently came into force with the passage of the Budget through Parliament, means that amateur sports clubs can now get tax relief on donations or apply to become a charity. To be eligible, a club will need to be open to the whole community, be organised on an amateur basis and provide facilities for one or more sports. Mr Brennan said: ‘I would urge all amateur sports clubs in Cardiff West to look into this scheme to see if they qualify. It is a great way to support community clubs and also to promote sport in the community. ‘The tax breaks that the Government have outlined can bring exemption from corporation tax on interest, trading income of up to £15,000, property worth up to £10,000 and capital gains tax on disposals of assets. Tax relief is also available to individuals or local firms that want to donate money to the clubs. ‘What makes the scheme even more attractive is that it is easy to register. All clubs need to do is to contact the Inland Revenue, fill in a short application form and provide accompanying documentation. Alternatively, they can now apply for charitable status.' For full details of how to apply for CASC funding, and for application material, visit the Inland Revenue's website at www.inlandrevenue.gov.uk or by writing or telephoning the Sports Club Unit at the address and number below: Sports Club UnitInland revenueMeldrum House15 Drumsheugh GardensEdinburgh EH3 7UN Tel no: 0131 777 4147 |