From HM Revenue & Customs · Company Taxation Manual
The business an ordinary “co-op” co-operative is not mutual trading. Corporation Tax on any profits or surpluses will be due unless the criteria set out at CTM40955 to CTM40975 are met.
Co-operatives that are ‘registered societies’ in Great Britain (formerly industrial and provident societies, see CTM40505), are dealt with at CTM40500 onwards.
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