Charity status: Sports clubs miss out on tax boost
Sports clubs for the disabled are missing out on a multimillion-pound tax boost in the run-up to the Paralympics, London 2012 sponsor Deloitte said today.
Thousands of disability clubs were urged to switch to Charity or Community Amateur Sports Clubs (CASC) status in a bid to save themselves an average of 14,800 each per year in tax.
For smaller-level local clubs, the average CASC saving is about 3,700 annually, according to Deloitte, which provides London 2012 management consulting and financial support services.
This was a missed opportunity as "relatively few" amateur clubs took this step despite cash being a "precious commodity".