Taxes Consolidation Act 1997 section 219A

Income of credit unions

Section 219A exempts credit unions registered under the Credit Union Act 1997 from corporation tax.

• A credit union that is registered under the Credit Union Act 1997 is exempt from corporation tax on its income.
• A credit union that is deemed to be registered under section 5(3) of the Credit Union Act 1997 also qualifies for the exemption.
• The exemption applies from the date of registration or deemed registration under the Act.
• The exemption covers all income arising to the credit union.