Income Tax (Trading and Other Income) Act 2005

57 (1) Amend section 83A (gifts in kind to charities etc.) as follows.

(2) In subsection (1) for “a person carrying on a trade, profession or vocation” substitute “a company carrying on a trade or profession”.

(3) In subsection (2) for “the donor in the course of his trade” substitute “the company in the course of its trade”.

(4) In subsection (3)—

(a) for “the donor's” substitute “the company's”,

(b) for “the purposes of the Tax Acts” substitute “corporation tax purposes”, and

(c) for “the donor” substitute “the company”.

(5) In subsection (4)—

(a) after “in respect of the gift of an article” insert “made by a company”,

(b) for “chargeable period”, in both places where it occurs, substitute “accounting period”,

(c) for “the donor or any person connected with him” substitute “the company or any person connected with the company”,

(d) for “the donor shall” substitute “the company shall”,

(e) before “tax”, in both places where it occurs, insert “corporation”, and

(f) for “he” substitute “the company”.