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Article: Tax breaks for sports clubs
- Article from:
- The Independent (London, England)
- Article date:
- March 3, 2002
- Author:
CopyrightCopyright 2002 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Amateur sports clubs are to be given charitable status under new
proposals to be announced in the spring Budget.
Following months of negotiations, the status of community sporting
clubs is to change, making them eligible for tax breaks worth between
pounds 40m and pounds 60m. Up to 150,000 clubs, which have an
estimated total membership of 1.5 million sports enthusiasts, stand
to gain from the changes. Many of them currently struggle to survive
as profit-making businesses.
Winning charitable status would mean sports clubs would get 80 per
cent mandatory rate relief, with a further 20 per cent available at
the discretion of the local authority. Other tax breaks may also be
in the offing. ...