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October 15. 2017 13:36:15 Login

Development Plans

The Club is constantly striving to improve the facilities we have available to us.  It is a slow process but one we have dedicated much time and scarce financial resources to.   In 2004 the committee embarked on a project to develop a second pitch and a training area with floodlights.  The training area came into use this winter and the pitch will be brought into use for the 2006/07 Season.

In order to finance the project the Club Officers went guarantor on a 12,000 bank loan, while committee members and other supporters signed up to make a donation of 250 per annum to repay the loan.

We sought and received Designated Project status for the development from the Department of Arts Sport and Tourism.   Being a Designated Project, donations of 250 or more made towards the project, from Corporations, Self Employed tax payers, or PAYE tax payers are eligible for section 847A tax relief.  This means that where a PAYE taxpayer makes a contribution of 250 the Club can, at the end of the tax year, claim from Revenue, the tax paid by the taxpayer on the donation.  The net result is that for every 250 received from PAYE taxpayers who pay tax at the high rate the Club receives 105 from Revenue.  Corporate and Self Employed taxpayers receive the tax benefit themselves by claiming the donation as a deduction in their annual return of income.

Our aim is to repay the loan as quickly as possible, and well ahead of the due date, in order that we can press on with further development which will undoubtedly be the building of dressing and Club rooms and the installation of an all weather surface on the training area.

If you would like to help with our development by making a donation to the Designated Project we would love to hear from you.  You can email the club at the following address for more details: info@bayfc.com

 

We are required to make an annual report on the project to the Department of Arts Sport and Tourism.  If you would like to read the first annual report to the department click here.