Section 47 — Corporation Tax Act 2010: Registered societies

Registered societies 47 1 This section applies for the purposes of sections 45 and 45B if the company carrying on the trade is a registered society .

2 The following amounts may be brought into account in calculating the profits of the trade—

a amounts to which the charge to corporation tax on income applies under section 299 of CTA 2009 (charge to tax on non-trading profits from loan relationships),

and b amounts arising from possessions out of the United Kingdom to which the charge to corporation tax on income applies under section 933 of CTA 2009 (dividends of non-UK resident company) or under section 974 of that Act (income arising from foreign holdings).