CTM40540 - Particular bodies: industrial and provident societies: carrying on trade: fines and fees received

Where a registered industrial and provident society is carrying on a taxable trade fines and fees received by a society should normally be included in a Case I computation. 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.