Section 982 — Corporation Tax Act 2010: Qualifying income or gains

Qualifying income or gains 982 1 In section 981(1)—

a the reference to qualifying income of a trade union or eligible employers' association is to income which is not trading income and which is applicable and applied for the purposes of provident benefits, and b the reference to qualifying gains of a trade union or eligible employers' association is to chargeable gains which are applicable and applied for the purpose of provident benefits.

2 In subsection (1) references to provident benefits include—

a a payment expressly authorised by the rules of the trade union or employers' association which is made—

i to a member during sickness or incapacity from personal injury or while out of work, ii to a member by way of superannuation by reason of age, sickness or incapacity from personal injury, iii to a member who has met with an accident, or iv to a member who has lost tools by fire or theft, b a payment in discharge or aid of funeral expenses on the death of a member or the spouse or civil partner of a member, and c a payment as provision for the children of a deceased member.