Related Commentary  Related HMRC Manuals


The heading substituted for the heading “Registered industrial and provident societies” by Co-operative and Community Benefit Societies Act 2014, s. 151 and Sch. 4, para. 157, with effect from 1 August 2014 (subject to the provisions of Sch. 5 and 6).

47(1)  This section applies for the purposes of sections 45 and 45B if the company carrying on the trade is a registered society.

47(2)  The following amounts may be brought into account in calculating the profits of the trade–

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