articles: Sports

Affiliation fees for sports clubs

HMRC has confirmed that the VAT extra-statutory concession allowing profit-making commercial sports clubs to treat re-charges of affiliation fees to their members as though they were disbursements, will be withdrawn from 1 April 2018.

Adopting FRS 102? Make sure you protect your results under the Financial Fair Play rules

As football clubs finally adopt the new UK accounting rules, assessing the impact on their Financial Fair Play (FFP) reporting will be a priority as the new UK GAAP could significantly affect not only your club’s formal financial statements, but also its ability to comply with the FFP regulations. Managing FRS 102 adoption and ongoing use carefully is therefore vital for your club’s future operating freedom.

VAT exemption for supplies by non-profit making sports clubs

HM Treasury has announced that the Value Added Tax (Sport) Order 2014 (SI 2014/3185) will come into force from 1 January 2015. It will amend the VAT Act to reflect HMRC’s change of policy following the judgment of the Court of Justice of the European Union (CJEU) in Bridport & West Dorset Golf Club (Case C-495/12) (Bridport). This follows Revenue & Customs' Brief 25/14, which explained the implications of the CJEU’s judgment in the Bridport case, and confirming that UK legislation would be amended.
 

The Autumn Statement – what can we expect?

The Chancellor of the Exchequer will deliver his Autumn Statement on Wednesday 3 December. This will provide an update on the government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility, which will be published the same day.

Moore Stephens supports women’s leadership in sport

Women aspiring to move into leadership positions in sport, and those already fulfilling such ambitions, recently gathered for an inspirational Alliance Directors’ Club breakfast organised by the Sport and Recreation Alliance (SRA), the umbrella organisation for the governing and representative bodies of sport and recreation in the UK.

The Budget 2014 – summary

In a speech full of sound bites, the Chancellor’s 2014 Budget repeated past themes – the need to build a resilient economy and for Britain to live within its means. But his dominant message was new: this was a Budget for “the makers, the doers and the savers”.