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Finance Act 2012

Background Note

5.HMRC registers sports clubs as CASCs provided that they meet certain qualifying conditions. The legislation currently requires all the qualifying conditions to be contained in a club’s constitution, although in practice two of the qualifying conditions are not included in the constitution of most, if any, registered CASCs. This section removes the requirement for these two conditions to be included in the constitution and it puts current HMRC practice onto a statutory footing.

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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.


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