CTM40110 | Particular bodies: clubs: incorporated under the Co-operative and Community Benefit Societies Act 2014 (formerly the Industrial & Provident Societies Acts)

If a social or recreational club is incorporated under the above act, the members of the club are required to be the club's shareholders. No member is allowed to hold a large amount of share capital. A club incorporated under these acts (for example, a working men's club) is regarded as a members' club for tax purposes.

See CTM40565 to CTM40570 as regards interest paid (including anyinterest paid on share capital).