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

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:

S1070 Corporation Tax Act 2010

»Ê¹ÚÌåÓýappre is guidance at BIM24565.

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

»Ê¹ÚÌåÓýappre is detailed guidance at BIM24600 onwards.

»Ê¹ÚÌåÓýapp following guidance covers:

  1. BIM24555
    Distributions: the basic approach
  2. BIM24560
    Distributions: dividends from a co-operative etc society
  3. BIM24565
    Distributions: S1070 Corporation Tax Act 2010
  4. BIM24600
    Distributions: on winding-up
  5. BIM24605
    Distributions on winding-up: taxable on first principles or statute
  6. BIM24615
    Distributions on winding-up: statute: what is taxed?