2 Rugby clubs. 1 is a casc one is not.
They both have a lottery running which members and non members participate in. The clubs are making a profit of say £20,000 each per year on this.
I think the casc one does not need to pay corp tax on the profit and the other one does?
Any opinion on this would be appreciated.
Thansk
Replies (4)
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Well
If the club is paying CT on profits then it would need to pay CT on the lottery wins as they would be part of the club's profits.
So
If the club is paying CT on profits then it would need to pay CT on the lottery wins as they would be part of the club's profits.
The club has never paid CT on it's profits as they have all been generated by members and are reinvested into the club. The lottery is mostly from non members.
I don't understand why you posed the question if you already knew the answer...
I was referring to the non-member club which presumably does makes profits.