BIM24305 | Meaning of trade: mutual trading and members clubs: members' clubs: interest paid or received

From HM Revenue & Customs · Business Income Manual

Where a members’ club pays interest on loans from brewery companies, or other suppliers, it may need to account for tax under SS- Income Tax Act 2007.

A members’ club is liable to tax for any saving and investment income it receives.

You should bear these points in mind when considering the liability of members’ clubs.