In an ever increasingly technology led world, the need to keep fit and active outside of the workplace has never been more important. It has been very pleasing to witness the effect the ‘CASC’ scheme has had on distinguishing sports clubs from businesses which has allowed more money to stay in sport due to certain tax breaks. Although it is still early days, we are already starting to see the benefits of this scheme on community sport across the country.
However, in my view, this is only a start and it is important to continue to support this growth in community sport. In time, it is hoped that the scheme will allow clubs to build up cash reserves to help with future development of facilities for example. It is important for sports clubs to set realistic goals for the future, and careful financial planning is essential for the achievement of these goals. Much like registered charities, this may involve raising funds through social investment or indeed the investment of existing cash reserves for optimal income.
At Seabrook Clark, we pride ourselves on being investment experts and can offer independent financial advice for those ambitious CASC’s looking to grow and achieve their goals.
[Nick Rusbridge, Seabrook Clark Ltd, 17 January 2014]