Commentary

D7.907 Taxable income—qualifying charitable donations and loan relationships

Corporate tax
Corporate tax | Commentary

D7.907 Taxable income—qualifying charitable donations and loan relationships

Corporate tax | Commentary

D7.907 Taxable income—qualifying charitable donations and loan relationships

Qualifying charitable donations

The general rule is that in computing the amount of corporation tax chargeable upon a company for any accounting period, there may be deducted from total profits any qualifying charitable donations (see D1.315) paid in the accounting period, as reduced by any other relief (except group relief and group relief for carried forward losses)1.

For companies that carry on ring fence activities, it is specifically stated that the surrendering company's gross profits do not include its relevant ring fence profits2. Relevant ring fenced profits are all of a company's ring fence profits if there are no qualifying charitable donations. Otherwise, relevant ring fence profits are so much of a

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