TaxCorporate TaxAmateur sports clubs to get tax breaks

Amateur sports clubs to get tax breaks

New tax breaks are being offered to amateur sports clubs in a bid to stem the growth of obesity in young people.

Link: BUDGET 2002: Gift aid extended to sports clubs

Obesity currently costs the economy £2bn a year, which is set to increase because 70% of young people give up sport after leaving school, the Financial Times reported.

But sports minister, Richard Caborn, aims to introduce measures that will help out cash-strapped sports organisations. The initiative will give clubs mandatory rate relief of 80%, with many eligible for complete exemption.

‘Increasing levels of participation in sport is in our interest because it is in the nation’s interest,’ said Caborn.

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