The Community Amateur Sports Clubs (Exemptions) Order 2014

Made: 17th December 2014

Laid before the House of Commons: 18th December 2014

Coming into force: 1st April 2015

The Treasury make the following Order in exercise of the powers conferred by sections 662(5A) and 663(5A) of the Corporation Tax Act 2010[^f00001]:

Citation, commencement and effect

1

• (1) This Order may be cited as the Community Amateur Sports Clubs (Exemptions) Order 2014 and comes into force on 1st April 2015.

• (2) The amendments made by articles 2 and 3 have effect in relation to accounting periods beginning on or after 1st April 2015.

• (3) Where an accounting period (“period A”) begins before, and ends on or after 1st April 2015, the amendments made by articles 2 and 3 have effect as if—

• (a) the part falling before that date and the part falling on or after it were two separate accounting periods, and

• (b) the receipts for period A—

• (i) which would (but for section 662 of the Corporation Tax Act 2010) be brought into account in calculating the club’s UK trading income for the purposes of condition A in section 662(2) of the Corporation Tax Act 2010, or

• (ii) which would (but for section 663 of the Corporation Tax Act 2010) be brought into account in calculating the club’s UK property income for the purposes of condition A in section 663(2) of the Corporation Tax Act 2010,

were apportioned between those two separate periods.

Exemption for UK trading income

2

In section 662(5)(a) of the Corporation Tax Act 2010 (exemption for UK trading income) for “£30,000” substitute “£50,000”.

Exemption for UK property income

3

In section 663(5)(a) of the Corporation Tax Act 2010 (exemption for UK property income) for “£20,000” substitute “£30,000”.

Signed

Mark Lancaster — Gavin Barwell — Two of the Lords Commissioners of Her Majesty’s Treasury — 17th December 2014

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

Sections 662 and 663 of the Corporation Tax Act 2010 provide exemptions for UK trading income and UK property income for sports clubs registered as community amateur sports clubs provided certain conditions are met. This Order increases the relevant thresholds for the exemptions from £30,000 to £50,000 for UK trading income and from £20,000 to £30,000 for UK property income with effect for accounting periods beginning on or after 1st April 2015. Article 1(3) makes provision for accounting periods which begin before, but end after, 1st April 2015.

A Tax Information and Impact Note covering this instrument and entitled Community Amateur Sports Clubs: Changes to Rules will be published online at http://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.

Footnotes

[^f00001]: 2010 c.4. Sections 662(5A) and 663(5A) were inserted by paragraphs 6 and 7 of Schedule 21 to the Finance Act 2013 (c.29).