Grassroots sports clubs bracing themselves for Budget announcement
POSTED 07 Mar 2017 . BY Matthew Campelli
Taking effect from 1 April 2017, the tax refund scheme will allow organisations fitting the criteria to claim a rebate
Several grassroots sports clubs may have to close down if the chancellor doesn’t extend business rate relief during tomorrow’s Budget announcement (8 March), according to the Sport and Recreation Alliance.
The industry body has called on Philip Hammond to announce an extension of the rate relief scheme enjoyed by some organisations to sport clubs, or a form of “transitional assistance” guarding grassroots clubs from rising business rates.
While rateable values are usually reviewed every five years, the last instance occurred in 2010 as the government decided to delay the 2015 revaluation.
As a result increases are due to come into effect in April 2017 and will be “much sharper” according to the Alliance.
“Not all sports clubs are currently eligible for rate relief and a wide range of clubs, such as riding schools, will be impacted,” said Alliance parliamentary and policy officer Charlotte Adams.
“The worst case scenario is that some clubs may end up being forced to close unless the government provides further assistance.”
Hammond may also reveal more details about the corporation tax relief scheme for grassroots sport originally ushered in by George Osborne, his predecessor.
The Alliance has requested that the reforms should enable governing bodies to claim relief for grassroots expenditure spread over several years, and that reforms should “apply to a wide variety of different governing body structures that exist”.
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Grassroots sports clubs bracing themselves for Budget announcement
POSTED 07 Mar 2017 . BY Matthew Campelli
Taking effect from 1 April 2017, the tax refund scheme will allow organisations fitting the criteria to claim a rebate
Several grassroots sports clubs may have to close down if the chancellor doesn’t extend business rate relief during tomorrow’s Budget announcement (8 March), according to the Sport and Recreation Alliance.
The industry body has called on Philip Hammond to announce an extension of the rate relief scheme enjoyed by some organisations to sport clubs, or a form of “transitional assistance” guarding grassroots clubs from rising business rates.
While rateable values are usually reviewed every five years, the last instance occurred in 2010 as the government decided to delay the 2015 revaluation.
As a result increases are due to come into effect in April 2017 and will be “much sharper” according to the Alliance.
“Not all sports clubs are currently eligible for rate relief and a wide range of clubs, such as riding schools, will be impacted,” said Alliance parliamentary and policy officer Charlotte Adams.
“The worst case scenario is that some clubs may end up being forced to close unless the government provides further assistance.”
Hammond may also reveal more details about the corporation tax relief scheme for grassroots sport originally ushered in by George Osborne, his predecessor.
The Alliance has requested that the reforms should enable governing bodies to claim relief for grassroots expenditure spread over several years, and that reforms should “apply to a wide variety of different governing body structures that exist”.
Grassroots sport to benefit from simplified tax deduction scheme POSTED 23 Nov 2016. BY Matthew Campelli National governing bodies (NGBs) will be able to donate directly to grassroots sport
schemes without paying corporation tax following an intervention by the Treasury.
FEATURE: News Feature: Tax Incentive POSTED 18 Apr 2016. Analysis of the government’s corporation tax consultation
Premium London health club, KX Chelsea, will imminently unveil its most significant
redevelopment since its launch in 2002 to create an integrated wellness model combining
training, recovery and relaxation.
Researchers in the US have identified an antibody which could greatly reduce the loss of lean
muscle mass in people who are taking weight-loss medications.
Crunch Fitness has announced the launch of Crunch Reform Pilates – its own reformer concept
designed to bring this fast growing, but rather expensive, modality into the mainstream.
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One of the biggest mistakes the fitness industry still makes is advertising almost
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client in under 10 seconds. [more...]
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