Conversion to CIC

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 |
Chris Smail's picture

Audit requirements

johnt27 |

Thank you

julie b |

If the records are good

Chris Smail |
Chris Smail's picture

Mutuality of trading

johnt27 |

The records aren't good!

julie b |