Corporation Tax Act 2010 section 664

Exemption for interest, gift aid and company gift income

Section 664 allows registered community amateur sports clubs to claim exemption from corporation tax on certain types of income, provided that income is used entirely for qualifying purposes.

• A club that is registered throughout an accounting period may claim corporation tax exemption on its interest income, gift aid income, and company gift income, but only if all of that income is applied for qualifying purposes.
• Interest income means interest received by the club that is not already accounted for as trading income; gift aid income means qualifying donations from individuals; and company gift income means monetary gifts from companies that are not charities.
• Where a club is registered for only part of an accounting period, that part is treated as a separate accounting period, and the club's interest income for that deemed period is proportionately reduced.
• The exemption is a claim-based relief, meaning the club must actively make a claim — it does not apply automatically.