If a charitable company1 receives a gift of a sum of money from a company which is not a charity2, the gift is treated as an amount in respect of which the charitable company is chargeable to corporation tax, under the charge to corporation tax on income3 but the gift is not taken into account in calculating total profits so far as it is applied to charitable purposes only4. If a body receives a gift of a sum of money from a company, the gift is not taken into account in calculating total profits if the body receiving the
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