Closing or deregistering a CASC
Only HM Revenue and Customs (HMRC) can deregister your CASC.
If your club’s members vote and agree to close your CASC, you must:
- let HMRC know
- follow the rules in your governing document
HMRC will tell you if you have to complete a Company Tax Return.
Disposing of assets
There are rules about what you do with your assets (for example, land or money) when you close a CASC.
Any remaining assets must only be used for:
- related community sport (as decided by your sport’s governing body)
- another registered CASC
- a charity
Your CASC would otherwise have to pay Corporation Tax.
If your club is removed from the register
HMRC can cancel your CASC registration by writing to the club secretary if it decides your club is no longer eligible. This can be backdated.
If HMRC deregisters your CASC you:
- will no longer get tax exemptions as of the deregistration date
- may have to pay Corporation Tax on any assets taken out of the club