Commentary

D7.830 Commercial implications—conversion of a building society to company status

Corporate tax
Corporate tax | Commentary

D7.830 Commercial implications—conversion of a building society to company status

Corporate tax | Commentary

D7.830 Commercial implications—conversion of a building society to company status

In order for the transfer of a building societies business to a company (one that falls within (c) at D7.827), to proceed the successor company must have the appropriate permission under the Financial Services and Markets Act 2000 to carry on the business that it will have as a result of the transfer; that is, as a minimum, it must have permission to accept deposits1. On a transfer to a successor company, shares in the society will be converted into deposits with the company. Any payment of dividends or interest

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