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Corporation Tax Act 2010

Section 514: Approved charitable loans

1577.This section sets out which loans (not being made by way of investment) count as approved charitable loans for the purposes of the rules restricting exemptions. It is based on Schedule 20 to ICTA. The corresponding rule for income tax is in section 561 of ITA.

1578.The label “approved charitable loan” replaces the label “qualifying loan” in section 506(4) of ICTA.

1579.References to “the Board” are replaced with references to “an officer of Revenue and Customs”. See Change 5 in Annex 1.

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