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There are special tax rules applying to “registered societies� which include co-operative and community benefit societies and credit unions. Guidance on registered societies can be found in the Company Taxation Manual at CTM40500+. The following pages deal with capital gains matters �

CTM40545 � the no gain/no loss rule in TCGA92/S217D that applies to certain transfers of assets

CTM40550 � conversions to or from a Companies Act company.