- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)Any dividend, bonus or other sum payable to a shareholder in—
(a)a registered industrial and provident society, or
(b)a UK agricultural or fishing co-operative,
is treated for corporation tax purposes as interest under a loan relationship of the society or co-operative if it is payable by reference to the amount of the shareholder’s holding in its share capital.
(2)If subsection (1) applies—
(a)so far as the shareholder’s holding is held for the purposes of a trade, the shareholder is treated for the purposes of section 297 as a party to the loan relationship referred to in subsection (1) for that purpose, and
(b)so far as the holding is held for any other purpose, the shareholder is treated for the purposes of that section as a party to that loan relationship for that other purpose.
(3)In subsection (1) “UK agricultural or fishing co-operative” means a co-operative association—
(a)which is established in the United Kingdom and UK resident, and
(b)whose primary object is assisting its members in—
(i)carrying on agricultural or horticultural businesses on land occupied by them in the United Kingdom, or
(ii)carrying on businesses consisting in the catching or taking of fish or shellfish.
(4)In subsection (3) “co-operative association” means a body with a written constitution from which the Secretary of State considers that it is in substance a co-operative association.
(5)For the purposes of subsection (4), the Secretary of State must have regard to the way in which the body’s constitution provides for its income to be applied for its members' benefit and all other relevant provisions.
(6)In the application of subsections (4) and (5) in Northern Ireland for “the Secretary of State” substitute “the Department of Agriculture and Rural Development”.
(1)This section applies if for any accounting period a registered industrial and provident society is obliged to make a return under section 887(2) of ITA 2007.
(2)If the society has not made the return within 3 months after the end of the period, no interest paid by it in the period is to be brought into account for the period for the purposes of Part 5.
(3)It does not matter for the purposes of subsection (2) whether the payment would be interest apart from section 499.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
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