LAM17190 - Relevant other business - payments by non-qualifying societies treated as distributions: FA12/S169

Where a payment is made to a member by a non-qualifying friendly society, in respect of the member’s interest in the society, and in the course of the society’s relevant other business that exceeds the total premiums paid by the member to the society (less any previous payments to the member), this will be treated as a distribution for the purpose of corporation and income tax (FA12/S169(1) and (2)).