Following the mini-reshuffle in the wake of Maria Miller’s resignation, Andrea Leadsom has been confirmed as the new Economic Secretary to the Treasury.
She will be taking over from Nicky Morgan as Minister with responsibility for the Community Amateur Sports Club (CASC) scheme.
It is a critical time for the scheme given that HMRC is currently in the process of finalising the new CASC rules following last year’s public consultation.
The Alliance will be writing to the new Economic Secretary this week to welcome her to the post and remind her of the significance of the CASC scheme and its importance for grassroots sports clubs.
The CASC consultation, which took place last summer, resulted in significant positive outcomes for community sport including:
- registered clubs now being able to generate greater levels of trading and rental income (up to £50k and £30k respectively) without triggering a corporation tax charge
- the extension of corporate Gift Aid – which encourages more local businesses to donate to sports clubs
- a confirmation that there will be no limit on the amount of non-sporting income that clubs can generate from members.
