Commentary

B5.831 Charity exemption for savings and investment income

Business tax
Business tax | Commentary

B5.831 Charity exemption for savings and investment income

Business tax | Commentary

B5.831 Charity exemption for savings and investment income

The income of a charity listed below is not taken into account in calculating total income in so far as it is applied to a charitable purpose only1:

  1.  

    •     interest (for companies, non-trading profits from loan relationships)

  2.  

    •     dividends or other distributions of a company

  3.  

    •     a dividend of a non-UK resident company

  4.  

    •     an annuity payment under a purchased life annuity

  5.  

    •     profits on the disposal of deeply discounted securities, or

  6.  

    •     income treated for the purposes of the Unauthorised Unit Trusts (Tax) Regulations, SI 2013/2819, reg 15 as received by

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