Which Business Type should I use for a co-op?

I’m trying to set up QuickFile for a co-op, but I’m a bit stumped as to which Business Type I should use.

We are registered as an Industrial & Provident Society. We do have Limited status, but we operate something like a charity and something like a business. Our assets are locked and we have to report regularly on our finances to our members. We have shareholders, but don’t pay dividends (although shareholders may earn interest).

So should I choose Limited Company or Charity (Limited)?

Thanks.

Is it limited by guarantee? are you subject to Corporation tax? if yes pick ltd company

We’re not a company limited by guarantee. An IPS has a different structure, the liability of shareholders is limited to their shareholding, not just a guarantee.

We will be subject to corporation tax though, so I’ll go for limited company. Thanks.

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