Industrial estate forum

Industrial estate forum

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Have been asked to act and would appreciate some guidance on the basics.

Businesses on the industrial estate have clubbed together to finance initiatives of mutual benefit (in many cases with joint finance from the local authority). The forum isn't a limited company.

Afraid I'm a bit at sea with the taxation consequences. The forum isn't (at least in my opinion) trading and there is no "view to a profit" here, so does income tax apply?

The forum currently has a significant balance in its bank account because it hasn't yet spent the subs collected; the intention is of course to spend all of that money but I'm not sure there are yet definite plans on how to apply all of the balance. Is there a taxation implication of any sort here?

Should the forum be treated like a members' club and only be taxed on its investment income? And am I right in thinking that is reported via a CT600?

Many thanks for any answers.
Adam Reeves

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