§ Lord Moynihanasked Her Majesty's Government:
What estimate has been made of the example of the additional cost to the Exchequer arising from the Chancellor's announcement of the doubling of the thresholds at which community amateur sports clubs are exempt from corporation tax to a new rate of £50,000.[HL499]
§ The Parliamentary Under-Secretary of State, Department for Culture, Media and Sport (Lord McIntosh of Haringey)This deregulatory measure was estimated to have a negligible annual cost to the Exchequer for the purposes of the 2003 Pre-Budget Report (Cm6042). All eligible amateur sports clubs are encouraged to register for CASC status so that they can take full advantage of the tax reliefs available.