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HMRC internal manual

Company Taxation Manual

Particular bodies: credit unions: returns required


Credit unions (as for all registered societies/industrial and provident societies) are required to make returns under ITA07/S887 (2) of share interest paid – ITA07/S874 (5). Such payments of share interest are made gross.

ITA07/S887 requires the society to make a return within 3 months of the end of each accounting period of all payments over £15 made to any person. In practice returns are required only for payments of £250 and over.

The return should include the name and address of each person to whom such a gross payment of £250 or more has been made and the amount paid to each. Returns should be sent to:

HM Revenue and Customs

Centre for National Information

Ground Floor, Government Buildings

Ty Glas



CF14 5ZG

There is information on how the process works for credit unions at:

If the return is not delivered then the society will not be entitled to relief from its profits for the amounts paid (CTA09/S500).