101 Distribution of assets of mutual concerns
Corporation Tax Act 2009 (2009 c 4) | Legislation

Other receipts

101  Distribution of assets of mutual concerns

(1)     This section applies if—

(a)     a deduction has been made in calculating the profits of a trade for a payment to a mutual concern for the purposes of its mutual business,

(b)     the concern is being or has been wound up or dissolved,

(c)     a company (“the recipient”) which is carrying on the trade, or was doing so at the time of the payment, receives money or money's worth representing the concern's assets, and

(d)     the assets in question represent profits of the mutual business conducted by the concern.

(2)     If the

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