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LEGISLATION |
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Industrial and Provident Societies to be renamed See CLM ¶121 The Co-operative and Community Benefit Societies and Credit Union Act 2010 was given Royal Assent on 18 March 2010. It has not yet come into force. The key changes that will be implemented by the Act are: » the re-naming of the Industrial and Provident Societies are as either co-operative societies or community benefit societies; » the requirement for new societies carrying on any industry, business or trade to be registered as either a co-operative society or a community benefit society; » the application of the Company Directors Disqualification Act 1986 to societies in the same way as it applies to companies; and » giving the Treasury power to apply company law relating to the investigation of companies, company names, dissolution and restoration to the register to societies. As yet, no regulations to do so have been made. Further details and the full Act can be found at: http://www.opsi.gov.uk/acts/acts2010/pdf/ukpga_20100007_en.pdf |
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VAT Memo 2010-2011, published in April, has been fully revised and updated for the Budget 2010 announcements, and will include commentary on the following: - restitution of the VAT rate to 17.5% (effective January 2010) - new place of supply rules for cross-border services (effective January 2010) - TOMS changes (effective January 2010) - new tribunal and appeals system (effective April 2009). |
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Be on top of the latest changes with VAT Memo 2010-2011 |
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