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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Friendly societies: general

Friendly societies can be

  • registered, see CG41606
  • unregistered, see CG41611
  • incorporated, see CG41612+.

All friendly societies are companies for the purposes of Corporation Tax; registeredand unregistered friendly societies come within the definition of company asunincorporated associations, while incorporated friendly societies are companies in theirown right. Although they are within the charge to Corporation Tax, friendly societiesenjoy a number of specific exemptions. Files for societies that have income or profitsoutside these exemptions should be dealt with by one of the specialist insurancedistricts. (See CTM40315 for further instructions on the general scheme of taxation offriendly societies).