Commentary

D7.611 'Relevant other business'—conditions for exemption: incorporated societies

Corporate tax
Corporate tax | Commentary

D7.611 'Relevant other business'—conditions for exemption: incorporated societies

Corporate tax | Commentary

D7.611 'Relevant other business'—conditions for exemption: incorporated societies

The exemption for relevant other business that may be claimed by registered friendly societies (see D7.610) is extended to those which have incorporated subject to similar restrictions.

An incorporated friendly society is a qualifying society, if there is no direction in force withdrawing qualifying status (see below), and which was:

  1.  

    (a)     before incorporation a registered friendly society which was entitled to exemption1 in respect of its relevant other; or

  2.  

    (b)     not formed by incorporation of a registered friendly society or the amalgamation of two or more friendly societies, and whose business is limited

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