1056Dividend or bonus relating to transactionsU.K.
This section has no associated Explanatory Notes
(1)This section applies if—
(a)a dividend or bonus is granted by a registered industrial and provident society, and
(b)section 132 of CTA 2009 (dividends etc relating to transactions with an industrial and provident society) allows the sum representing the dividend or bonus to be deducted in calculating the profits of a trade.
(2)The dividend, or the bonus, is not a distribution for the purposes of the Corporation Tax Acts.