An updated booklet which helps people who run clubs, societies and associations with the tax rules that affect them has been published by the Inland Revenue.
The booklet, called `Clubs, Societies and Associations’ (IR46), has been updated to take into account changes under Corporation Tax Self Assessment.
It is part of the Inland Revenue’s on-going efforts to keep people informed of tax changes and how they are affected by them.
1. The booklet `Clubs, Societies and Associations’ answers – in plain English – the questions most often asked by club officials. It explains
what sort of tax clubs may have to pay
what clubs need to do if they get interest from banks or building societies, or if they sell off assets
what happens if a club does have to pay tax
how often clubs may have to fill in tax forms
how to fill in the Company Tax Return
where clubs can get help with any questions about tax.
2. It includes examples of how to work out tax payable under Corporation Tax Self Assessment.
3. People can get the booklet free by:
calling the Inland Revenue Orderline on 0845 9000404 (lines are open between 8:00am and 10:00pm every day, and all calls are charged at local rates)
faxing on 0845 9000604
e-mailing to email@example.com
writing to Inland Revenue Orderline, PO Box 37, St. Austell, Cornwall, PL25 5YN.
The booklet is also available from Tax Offices or Inland Revenue Enquiry Centres (listed in The Phone Book under “Inland Revenue”) and in the Forms and Publications section of the Inland Revenue’s Internet site at www.inlandrevenue.gov.uk .
NOTES FOR EDITORS
1. Up to 100,000 clubs, societies and associations are among over one million concerns affected by CTSA. CTSA brings tax treatment for companies more closely into line with that of individuals and partnerships.
2. CTSA applies to accounting periods ending on or after 1 July 1999.
3. The move to CTSA for companies is nowhere near the major change that the introduction of Income Tax Self Assessment was for Income Tax payers. CTSA has many features in common with the Corporation Tax Pay and File (CTP&F) system which it replaced.
4. Like the CTP&F return form, members’ clubs, societies and voluntary associations liable to Corporation Tax may only need to complete as few as three pages of the new 12-page Company Tax Return.
5. A new-style Company Tax Return and Company Tax Return Guide will automatically be sent to clubs, societies and associations that are already on the Inland Revenue’s books and do not have an accountant acting for them, or do not use an approved computer substitute form. Clubs that do have accountants acting for them, and accountants themselves, can get copies of the new Company Tax Return, the Company Tax Return Guide, or any Supplementary Pages they need by calling the CTSA Orderline on 0845 300 6555, or fax 0845 300 6777. All calls to the CTSA Orderline are charged at local rates, and lines are open seven days a week from 8:00am to 10:00pm. 6. Company Tax Return forms, as well as other Inland Revenue forms and leaflets, are also available on the Internet at http://www.inlandrevenue.gov.uk
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