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tahir

Joined: 28 Oct 2004
Posts: 45427
Location: Essex

Posted: Mon May 16, 05 12:42 pm Post subject: Help!

I hope someone can help with this:

As some of you may know we are currently owned by Jema's company, mainly to make sure that we are protected in case anybody sues us.

We are looking to change this so that we are either a club/society or a co-op, what we need is a structure that is:

1. Easy (and cheap) to administer
2. Limits liability
3. Works with our not for profit status

We also need to know what our tax liabilities might be, especially if we embark on projects to sel items like T Shirts and bags etc.

Any help would be most welcome

jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28111
Location: escaped from Swindon

Posted: Mon May 16, 05 12:47 pm Post subject:
And perhaps to state the obvious formalises some form of democratic ownership structure. Hence the idea for club/coop.

twoscoops

Joined: 28 Oct 2004
Posts: 1924
Location: Warwickshire

Posted: Mon May 16, 05 12:52 pm Post subject:
not really my area, so can't help there unfortunately.

Fullup

Joined: 09 Dec 2004
Posts: 183
Location: Under water

Posted: Mon May 16, 05 1:39 pm Post subject:

mmm…just thinking about the possible tax liability. A members club would not normally be taxable as any surplus would be just a surplus of members’ contributions/membership fees less any expenses and not, therefore, a profit.

The sale of anything to anyone other than the club members may, however, be seen as trade, this would then be taxable. The income and expenses of trade would need to be separated / apportioned from the members income and expenses to arrive at any taxable profit.

I must admit that I am thinking in the context of my diving club here and others may be able to throw more light onto it.

Guest

Posted: Thu May 19, 05 11:26 am Post subject:
Help! indeed. Twoscoops here, and I've lost my password, so can't log in. How do i get it back?

tahir

Joined: 28 Oct 2004
Posts: 45427
Location: Essex

Posted: Thu May 19, 05 11:27 am Post subject:
I'll change it and email you the new one

mochyn

Joined: 21 Dec 2004
Posts: 24585
Location: mid-Wales

Posted: Thu May 26, 05 9:51 am Post subject:
I'm sure there's a co-ordinating thingy for co-ops: presumably they'd be able to help? I'm personally in favour of co-ops (like it's any of my business!) Try a quick google...

mochyn

Joined: 21 Dec 2004
Posts: 24585
Location: mid-Wales

Posted: Thu May 26, 05 10:00 am Post subject:
OK these guys might help: www.euro-social-economy.org.uk/icom.html It's the Industrial Common Ownership Movement. Give it a go!

tahir

Joined: 28 Oct 2004
Posts: 45427
Location: Essex

Posted: Thu May 26, 05 11:22 am Post subject:
Thanks for that mochyn, we seem to be a bit stuck on the ownership thing at the mo.

sean
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 42207
Location: North Devon

Posted: Thu May 26, 05 11:24 am Post subject:
That's because you still haven't sent me the bumpf from the co-op people. Don't make me start using large typefaces.

Bugs

Joined: 28 Oct 2004
Posts: 10744

Posted: Thu May 26, 05 11:24 am Post subject:

mochyn wrote:

like it's any of my business!

Certainly is your business! Why do you think we're asking?

tahir

Joined: 28 Oct 2004
Posts: 45427
Location: Essex

Posted: Thu May 26, 05 11:25 am Post subject:
Its in my car, my cars being used by someone else

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