I am a member of a sports club which has been established for a couple of decades. It is not a casc, a company, or has any formal structure. I have asked about deeds, etc and the oldest members don't think there are any. It is not VAT registered.
We meet at a local pub (we own nothing at the pub) and bring our own equipment. Unfortunately it is almost certain that the premises will be sold for housing development. This will involve us having to find new premises and as part of the sale of the property it has been suggested that our club may receive income to 'compensate' us having to move out and find new premises. The income could be in excess of £20,000 to help start up elsewhere, which is a very significant amount of money to the club.
My question is are there any potential tax consequences we ought to think about if this does happen and this money is received?