Related Commentary  Related HMRC Manuals

981(1)  No liability to corporation tax arises in respect of qualifying income or gains of a trade union or eligible employers' association if conditions A and B are met.

981(2)  Condition A is that the trade union or employers' association is prevented by its rules or by Act of Parliament from assuring to any person a sum exceeding–

(a)£4,000 by way of gross sum, or

(b)£825 by way of annuity.

981(3)  Condition B is that the trade union or employers' association makes a claim for exemption under this section.

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