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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. A 10 Minute Rule Bill was introduced by Loughborough MP Andrew Reed based on the Andrew Phillips draft legislation. 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 rat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Blair Ministry
The second Blair ministry lasted from June 2001 to May 2005. Following the Lost Decades, 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 Party (UK), 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 War in Afghanistan (2001–2021), 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Phillips, Baron Phillips Of Sudbury
Andrew Wyndham Phillips, Baron Phillips of Sudbury, (15 March 1939 – 9 April 2023) was a British solicitor and 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. Phillips 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, ... [...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 yea ... [...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, bonds, precious metals, real estate, and property. In South Africa, capital gains tax applies to the disposal of assets by individuals, companies, and trusts, with inclusion rates differing by entity type and with special provisions for primary residences and offshore assets. Not all countries impose a capital gains tax, and most have different rates of taxation for individuals compared to corporations. Countries that do not impose a capital gains tax include Bahrain, Barbados, Belize, the Cayman Islands, the 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, a so-called investment savings account (ISK – ''investeringssparkonto'') wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporation Tax
A corporate tax, also called corporation tax or company tax or corporate income tax, is a type of direct tax levied on the income or capital of corporations and other similar legal entities. The tax is usually imposed at the national level, but it may also be imposed at state or local levels in some countries. Corporate taxes may be referred to as income tax or capital tax, depending on the nature of the tax. The purpose of corporate tax is to generate revenue for the government by taxing the profits earned by corporations. The tax rate varies from country to country and is usually calculated as a percentage of the corporation's net income or capital. Corporate tax rates may also differ for domestic and foreign corporations. Some countries have tax laws that require corporations to pay taxes on their worldwide income, regardless of where the income is earned. However, most countries have territorial tax systems, which only require corporations to pay taxes on income earned withi ... [...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 The Rugby Football Union (RFU) is the Sports governing body, national governing body for rugby union in England. It was founded in 1871, and was the sport's international govern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Corporation Tax
: ''Throughout this article, the term "pound" and the £ symbol refer to the Pound sterling.'' Corporation tax in the United Kingdom is a corporate tax levied in on the Profit (economics), profits made by UK-resident Company (law), companies and on the profits of entities registered overseas with permanent establishments in the UK. Until 1 April 1965, companies were taxed at the same Taxation in the United Kingdom#Income tax, income tax rates as individual taxpayers, with an additional profits tax levied on companies. Finance Act 1965 replaced this structure for companies and associations with a single corporate tax, which took its basic structure and rules from the income tax system. Since 1997, the UK's Tax Law Rewrite ProjectTax Law Rewrite , Her Majesty's Revenue and Customs (HMRC). Retrieved 17 April 2007 has been modernising the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United Kingdom
In the United Kingdom, taxation may involve payments to at least three different levels of government: Government of the United Kingdom, central government (HM Revenue and Customs), Devolution in the United Kingdom, devolved governments and Local government in the United Kingdom, local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, United Kingdom corporation tax, corporation tax and Hydrocarbon oil duty, 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 decriminalised parking enforcement, on-street parking. In the fiscal year 2023–24, total government revenue was forecast to be £1,139.1 billion, or 40.9 per cent of Gross domestic product, GDP, with income taxes and National Insurance contributions standing at around £470 billion. History A uniform Land Tax (Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
