Proposed Changes to Coolhurst Articles of Association
For the past few months, the GMC has been considering applying to HMRC to become a Community Amateur Sports Club (CASC). At the meeting last Monday the 20th February the GMC considered the recent report of the CASC sub-committee, which had recommended that we apply to HMRC for CASC status. The GMC voted in favour of this recommendation.
Broadly speaking, the advantages of becoming a CASC are:
- A mandatory reduction in business rates of 80% – the current saving would be £12,000.
- Gift aid from individuals – 25p in every £.
- No corporation tax or capital gains tax.
Some of the CASC Requirements from the Club are:
- The club rules (Articles of Association) need to be compliant with all the CASC requirements.
- The club must be open to the whole community.
- We must provide a subscription of less than £520 for those of limited means.
- We need to provide proof that 50% of members partake in their chosen sport at least 12 times per year.
In order to comply with the HMRC regulations, we will need to make changes to the club rules. To a large extent, this means modifying our Articles of Association. Modification of our articles can only take place at a General Meeting. For this reason, a resolution will be put forward and the AGM on March 13th. At the same time we will be proposing some minor changes to correct for minor errors and inconsistencies. The information is contained on the following pages.
- Changes to comply with the CASC legislation
- Changes to correct for minor errors in the existing Articles.
In order to help you follow these changes, the following links will enable you to download.
This page has been set up as a blog so that members can suggest changes to what has been suggested here