Deadline pushed back for registering Community Benefit Societies

Cut-off date is now likely to be 2011

The deadline for registering charitable Community Benefit Societies - formerly known as Industrial and Provident Societies - has been put back again until next year, according to the Office of the Third Sector's latest implementation plan for the Charities Act 2006.

Before the act, IPSs that met the Financial Services Authority's community benefit criteria were treated as exempt charities, getting tax breaks without having to register with or submit accounts to the Charity Commission. Societies with incomes of more than £100,000 were expected to have to register with the commission in 2009.

Controversy arose over the power in some societies' constitutions to pay dividends to their shareholders. The commission believes this is incompatible with charitable status.

The implementation plan predicts that CBSs will have to begin registering early next year.

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