Part 2Trading income
Chapter 7Trade profits: gifts to charities etc.
C1108Gifts of trading stock to charities etc.
1
This section applies if a person carrying on a trade (“the donor”) gives an article for the purposes of—
a
a charity, a registered club or a body listed in subsection (4), or
b
a designated educational establishment (see section 110),
and the article is one manufactured, or of a class or description sold, by the donor in the course of the trade.
2
In calculating the profits of the trade, no amount is required to be brought into account as a receipt in consequence of the disposal of the article.
3
In this section “registered club” has the meaning given by F5section 658 of CTA 2010 (community amateur sports clubs).
4
The bodies referred to in subsection (1)(a) are—
a
the Trustees of the National Heritage Memorial Fund,
b
the Historic Buildings and Monuments Commission for England,
c
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
d
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3e
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
This section F4—
a
needs to be read with section 109 (receipt by donor or connected person of benefit attributable to certain gifts)F2, and
b
is subject to section 809ZM of ITA 2007 (removal of income tax relief in respect of tainted charity donations etc).