LAM17210 | Exemption for unregistered friendly societies: FA12/S171

A friendly society which is neither a registered friendly society nor an incorporated friendly society is not liable to pay corporation tax (whether on income or chargeable gains) on its profits if its income does not exceed £160 a year – FA12/S171(1) .

The exemption applies only if the society makes a claim – FA12/S171(2).