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Community Amateur Sports Club
The Community Amateur Sports Club (CASC) scheme was introduced in 2002 by the then Labour government to support grass roots sport. The original legislation was drafted by Andrew Phillips. It recognises the importance of sport in the community by allowing local amateur sports clubs to register with HM Revenue and Customs (HMRC) as a sports club rather than a business for rates and tax purposes. As such, clubs can benefit from a range of tax reliefs, including Gift Aid and rate relief. Both property and non-property owning clubs can significantly benefit from the scheme. A community amateur sports club (CASC) in the United Kingdom is an amateur sports club eligible for favourable treatment for taxation purposes, with some similarities to charitable status. The benefits include eligibility for Gift Aid tax relief on donations, relief from at least 80% of business rates, and special treatment for capital gains tax and corporation tax purposes. The main criteria for registration a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Blair Ministry
The second Blair ministry lasted from June 2001 to May 2005. Following the financial crisis in Japan at the end of the 1990s, there was a brief recession in other parts of the developed world including Germany, Italy and France in the early-2000s, but the UK avoided recession and continued to maintain a strong economy and low unemployment. By the time the next general election was on the horizon, Labour were looking well positioned for a record third successive term in government. Unemployment remained low and the economy remained strong with more than a decade of unbroken growth, and education and healthcare had changed for the better as a result of expenditure by Labour. However, the Labour government had attracted controversy by sending British troops to fight in Afghanistan in the aftermath of the 11 September terrorist attacks on the United States in 2001, and even more so when it joined the American-led invasion of Iraq eighteen months later – particularly when it emerg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Phillips, Baron Phillips Of Sudbury
Andrew Wyndham Phillips, Baron Phillips of Sudbury, OBE (born 15 March 1939) is a solicitor and former Liberal Democrat politician. Education and legal practice Andrew Phillips attended Culford School, Uppingham School and Trinity Hall, Cambridge, where he read Economics and Law, then qualified as a solicitor in 1964, eventually specialising in charity law. Before university he worked in his father's law firm in their home town of Sudbury. After qualifying he worked as a salaried partner at Pritchard Englefield and then Lawford & Co. In 1970 he founded commercial law firm Bates Wells Braithwaite giving it the same name as his father's firm, though it was an entirely independent entity. He provided legal advice to secure charitable status for organisations including the Fairtrade Foundation, the Village Retail Stores Association, Charity Bank and Switchboard (previously the London Lesbian and Gay Switchboard) (1974). Phillips also represented Richard Harries, the Bishop of Oxfo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gift Aid
Gift Aid is a UK tax incentive that enables tax-effective giving by individuals to charities in the United Kingdom. Gift Aid was introduced in the Finance Act 1990 for donations given after 1 October 1990, but was originally limited to cash gifts of £600 or more. This threshold was successively reduced in April 2000 when the policy was substantially revised and the minimum donation limit removed entirely. A similar policy applies to charitable donations by companies that are subject to the UK corporation tax. Gift Aid was originally intended for cash donations only. However, since 2006, HMRC compliant systems have been introduced to allow tax on the income earned by charity shops, acting as an agent for a donor, to be reclaimed. In order for the charity to operate effectively they will need HMRC-approved systems to be able to record and track the progress of each item from receipt to sale and confirm with the donor that the donation should still go ahead. In the financial year ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Gains Tax
A capital gains tax (CGT) is the tax on profits realized on the sale of a non-inventory asset. The most common capital gains are realized from the sale of stocks, Bond (finance), bonds, precious metals, real estate, and property. Not all countries impose a capital gains tax and most have different rates of taxation for individuals versus corporations. Countries that do not impose a capital gains tax include Bahrain, Barbados, Belize, Cayman Islands, Isle of Man, Jamaica, New Zealand, Sri Lanka, Singapore, and others. In some countries, such as New Zealand and Singapore, professional traders and those who trade frequently are taxed on such profits as a business income. In Sweden, the Investment Savings Account (ISK – ''Investeringssparkonto'') was introduced in 2012 in response to a decision by Parliament to stimulate saving in funds and equities. There is no tax on capital gains in ISKs; instead, the saver pays an annual standard low rate of tax. Fund savers nowadays mainly ch ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation Tax
A corporate tax, also called corporation tax or company tax, is a direct tax imposed on the income or capital of corporations or analogous legal entities. Many countries impose such taxes at the national level, and a similar tax may be imposed at state or local levels. The taxes may also be referred to as income tax or capital tax. A country's corporate tax may apply to: * corporations incorporated in the country, * corporations doing business in the country on income from that country, * foreign corporations who have a permanent establishment in the country, or * corporations deemed to be resident for tax purposes in the country. Company income subject to tax is often determined much like taxable income for individual taxpayers. Generally, the tax is imposed on net profits. In some jurisdictions, rules for taxing companies may differ significantly from rules for taxing individuals. Certain corporate acts or types of entities may be exempt from tax. The incidence of corporate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sport And Recreation Alliance
The Sport and Recreation Alliance, formerly known as the Central Council of Physical Recreation, is the representative body for national sports organisations in the United Kingdom. The Sport and Recreation Alliance is the main body for sport and recreation in the UK. It represents over 320 member organisations. The organisation speaks and acts to promote, protect and develop the interests of sport and physical recreation at all levels. It is completely independent of any form of government control, has no responsibility for allocating funds, is strictly non-party and will support or oppose proposed measures only on the basis of their perceived value to sport and recreation Its members range from large national governing bodies of sport such as the Football Association and the Rugby Football Union to smaller members such as stoolball or kitesurfing Kiteboarding or kitesurfing is a sport that involves using wind power with a large power kite to pull a rider across a water, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United Kingdom
Taxation in the United Kingdom may involve payments to at least three different levels of government: central government (HM Revenue & Customs), devolved governments and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for on-street parking. In the fiscal year 2014–15, total government revenue was forecast to be £648 billion, or 37.7 per cent of GDP, with net taxes and National Insurance contributions standing at £606 billion. History A uniform Land tax, originally was introduced in England during the late 17th century, formed the main source of government revenue throughout the 18th century and the early 19th century.Stephen Dowell, ''History of Taxation and Taxes in England'' (Routledge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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