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

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:

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?