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HMRC internal manual

Company Taxation Manual

Particular bodies: registered societies: returns of gross payments

Payments of share and loan interest within ITA07/S887 and payments in respect of transactions with the society are made gross.

The society should make a return of the gross payments of share and loan interest. 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 to any person.

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.  The 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 registered societies at:

There is similar guidance 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).