Related Commentary  Related HMRC Manuals


In the heading the words “Registered societies” substituted for the words “Industrial and provident societies” by Co-operative and Community Benefit Societies Act 2014, s. 151 and Sch. 4, para. 166, with effect from 1 August 2014 (subject to the provisions of Sch. 5 and 6).

1055(1)  Interest paid by a registered society in respect of a mortgage, loan, loan stock or deposit is not a distribution for corporation tax purposes.

1055(2)  If any dividend, bonus, interest or other sum–

(a)is paid to a shareholder in a registered society, and

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