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HMRC internal manual

Business Income Manual

HM Revenue & Customs
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Meaning of trade: mutual trading and members clubs: members' clubs: interest paid or received

Where a members’ club pays interest on loans from brewery companies, or other suppliers, it may need to account for tax under SS945-960 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.