# Finance Act 2012, Section 171: Exemption for unregistered friendly societies


(1) A friendly society which is neither a registered friendly society nor an incorporated friendly society is not liable to pay corporation tax (whether on income or chargeable gains) on its profits if its income does not exceed £160 a year.
(2) The exemption applies only if the society makes a claim.

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Source: https://www.legislation.gov.uk/ukpga/2012/14/section/171 (the official version)
Page: https://openlegislation.uk/finance-act-2012/section-171
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.