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Changes over time for: Section 981


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/04/2010.
Changes to legislation:
Corporation Tax Act 2010, Section 981 is up to date with all changes known to be in force on or before 12 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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981Exemption for trade unions and eligible employers' associationsU.K.
This section has no associated Explanatory Notes
(1)No liability to corporation tax arises in respect of qualifying income or gains of a trade union or eligible employers' association if conditions A and B are met.
(2)Condition A is that the trade union or employers' association is prevented by its rules or by Act of Parliament from assuring to any person a sum exceeding—
(a)£4,000 by way of gross sum, or
(b)£825 by way of annuity.
(3)Condition B is that the trade union or employers' association makes a claim for exemption under this section.
(4)The following are to be ignored in determining whether condition A is met—
(a)an annuity contract which constitutes a registered pension scheme, and
(b)an annuity contract which is issued or held in connection with a registered pension scheme other than an occupational pension scheme (within the meaning of section 150(5) of FA 2004).
(5)The Treasury may by order—
(a)amend the sum for the time being specified in subsection (2)(a) or (b) so as to increase it, and
(b)make provision about the income or gains in relation to which an amendment under paragraph (a) has effect.
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