Tax guidance for cricket clubs
The LCB has become aware that a number of our clubs have received enquiries for information, and also visits by investigators from HM Revenue & Customs, in relation to liabilities which they may have for the payment of Tax and VAT.
In some cases we believe that HMRC have gone back over previous years and some clubs have finished up with unwanted and substantial tax bills. The LCB is not able to provide advice on these matters but the ECB has obtained on behalf of clubs some very good advice from a tax expert which is available on its website from the following link:
Tax guidance for cricket clubs (Link to ECB website)
http://www.ecb.co.uk/development/facilities-funding/saving-money-and-managing-resources/tax-guidance-for-cricket-clubs,2883,BP.html
Clubs will also notice that the ECB strongly advises clubs to seek professional advice before responding to any requests for information from HMRC and the LCB also fully supports this advice. Also the LCB recommends clubs to link with other clubs when seeking advice and use the same advisor since this could reduce the costs considerably when the items under consideration are likely to be the same or similar
.
Bill Robinson (LCB Honorary Treasurer)
