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BIM24550 | Meaning of trade: mutual trading and members clubs: distributions: introduction and layout of guidance: contents

From HM Revenue & Customs · Business Income Manual

It follows from first principles that distributions out of the surpluses from mutual trading to members by a continuing mutual concern (corporate or non-corporate) are trading receipts where the member who receives them does so because of the trade they carry on - see BIM24555. In addition there are two statutory provisions:

There is guidance at BIM24565.

S104 Income Tax (Trading and Other Income) Act 2005, S101 Corporation Tax Act 2009

There is detailed guidance at BIM24600 onwards.

The following guidance covers:

Contents6 entries

  1. BIM24555Meaning of trade: mutual trading and members clubs: distributions: the basic approach
  2. BIM24560Meaning of trade: mutual trading and members clubs: distributions: dividends from a co-operative etc society
  3. BIM24565Meaning of trade: mutual trading and members clubs: distributions: S1070 Corporation Tax Act 2010
  4. BIM24600Meaning of trade: mutual trading and members clubs: distributions: on winding-up
  5. BIM24605Meaning of trade: mutual trading and members clubs: distributions on winding-up: taxable on first principles or statute
  6. BIM24615Meaning of trade: mutual trading and members clubs: distributions on winding-up: statute: what is taxed?