Commentary

D7.635 Trade unions

Corporate tax
Corporate tax | Commentary

D7.635 Trade unions

Corporate tax | Commentary

Other special classes

D7.635 Trade unions

A registered trade union (as defined below), which is precluded by statute or by its rules from assuring to any person an amount exceeding £4,000 as a gross sum or £825 a year by way of annuity, is, on the making of a claim, entitled to exemption from:

  1.  

    (a)     income tax and corporation tax on income which is not trading income, and

  2.  

    (b)     tax in respect of chargeable gains

provided that the income or chargeable gains are applicable and applied for the purpose of provident benefits (defined below)1. The Treasury may increase the limits on gross sums and annuities by statutory instrument2.

A registered trade union for this purpose includes3:

  1.  

    (a)     a trade union included in the list maintained under the Trade Union

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