Conversion to CIC

Posted by julie b PM | on Mon, 10/12/2012 - 11:54 339 6 comments | report

I have a members club which is incorporated under the Industrial & Provident Societies Act 1968. The club is for social activities and provides drink at lower than pub prices. Due to the audit/reporting accountant requirements we are exploring the possibility of changing the legal structure. I was wondering if anyone had any experience of converting this type of club to a CIC and if so:

a) was there any problem in meeting the requirement to provide a community benefit

b) what happens to the mutual trading status for tax purposes?

Any comments or suggestions much appreciated.

Comments

There are 6 comments. Login or register to view them.

Do you realy mean a CIC?

Chris Smail | Mon, 10/12/2012 - 13:45

Audit requirements

johnt27 | Mon, 10/12/2012 - 16:58

Thank you

julie b | Tue, 11/12/2012 - 11:20

If the records are good

Chris Smail | Tue, 11/12/2012 - 17:16

Mutuality of trading

johnt27 | Wed, 12/12/2012 - 11:47

The records aren't good!

julie b | Wed, 12/12/2012 - 17:39