TaxCorporate TaxTax exemption for British Legion clubs

Tax exemption for British Legion clubs

Fresh from Monday's Armistice Day commemorations, British Legion clubs are among thousands of bodies who will find themselves in the zero-rate corporation tax bracket when they file their tax returns this month.

Link: Plaid Cymru proposes corporation tax cut

In this year’s Budget Gordon Brown pledged limited companies with incomes under £10,000 would be exempt from the tax after 5 April 2002.

Many believed this was limited to companies in that income bracket, but accountants have discovered exemptions extend to bodies like British Legion and sports clubs.

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