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HMRC internal manual

Company Taxation Manual

From
HM Revenue & Customs
Updated
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Particular bodies: registered societies: carrying on trade - fines and fees received

Where a registered society has trading income fines and fees received by a society should normally be included.  The following are the principal classes of fees/fines etc, referred to:

• entrance fees (where not credited to the member as a payment of share capital),

• nomination fees,

• transfer fees,

• fines for failure to notify change of address, to produce share books etc,

• forfeits on withdrawal from the society,

• fines or forfeiture of share capital for failure to complete payment for the minimum share or shares required to be held.