I am a Society

Hi everyone,

I have just joined. I am Treasurer and Membership Secretary for a society. In our case, it is the Johnson Society of London. We are a collection of people with a specific interest. The committee that runs it is comprised entirely of volunteers.

We have an annual membership fee and bank account. We run a web site (www.johnsonsocietyoflondon.org) which costs money. We publish a journal and so have to pay printers. We have monthly meetings and so have to pay the places in which we meet.

Our “business`” therefor is like a lot of small friendly societies. We could just as well be a gardening club. But we have a need to manage our finances, pay our bills on time and get our subscriptions paid on time.

I am struck by how little support there is for our type of organisation. On Quckfile I have set us up as a Sole Trader. We are not a Charity. Banks don’t have a customer category for us. Yet there must be thousands or tens of thousands groupings like us up and down the land.

It will be interesting to see how we manage on Quickfile.

Anyone who is like us - I’d like to meet!

Chris

I’m having trouble understanding your business structure. Your a society, but not a charity.

Do you pay tax? Who “owns” this society, board members or self employed or are you a Ltd company?

Answer to that will determine the correct treatment.

It may just be a case of not adding the correct nominals for what you want.

As an unincorporated society you would pay corporation tax so the limited company classification in QF would give the best set of nominals.

Actually I set our unincorporated society up as a sole trader and found that it doesn’t make much difference apart from not gving you a director’s loan account which I have found no need for anyway.

I am assuming that you are not VAT registered.

I would add that you might want to create some custom nominals to separate your various income and expenditure streams. For our magazine I separate income from magazine sales and advertising sales.

Thanks Paul for replying.

The chairman of our society (who is a corporate lawyer) tells me we have a legal status and are designated as am unincorporated association. (A new one on me!)

Even a Gov HMRC page: Unincorporated associations - GOV.UK

We pay no tax or VAT.

Thanks FolkLondon

As I replied to Paul Courtier, we have a legal status and are designated as am unincorporated association. (

HMRC page: Unincorporated associations - GOV.UK. It says no tax payable unless you make a profit,

Thanks for your suggestion about SoleTrader.

Chris

Paul, I should have thanked you for your suggestions.

The members own the society.

I wonder why QuickFile doesn’t have a designation and nominal for a group like us. We must be very common.

Chris

I would just pick whatever type of Account fits best and add the nominals that you want to the chart of accounts.

Thanks Paul. I agree with your suggestion. I will stick with sole trader I think.

Chris

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