(2) what the trading and rental income thresholds for corporation tax exemption are for community amateur sports clubs; and what they would be if they had been uprated in line with inflation in each year since 2004.
Income exemption thresholds for corporation tax for community amateur sports clubs (CASCs) are, along with all other income thresholds for tax, kept under review.
CASCs are exempt from corporation tax on any trading income up to £30,000 and on income from property up to £20,000. Prior to April 2004, the limits were £15,000 and £10,000 respectively.
The following tables show what the thresholds would have been had they been increased in line with inflation.
Threshold (£) RPI (Percentage) Inflation linked threshold (£) 2004-05 30,000 — — 2005-06 30,000 2.63 30,789 2006-07 30,000 3.74 31,941 2007-08 30,000 4.12 33,256 2008-09 30,000 2.97 34,244
Threshold (£) RPI (Percentage) Inflation linked threshold (£) 2004-05 20,000 — — 2005-06 20,000 2.63 20,526 2006-07 20,000 3.74 21,294 2007-08 20,000 4.12 22,171 2008-09 20,000 2.97 22,829