Corporation Tax Act 2010 (c. 4)

Part 6 U.K. Charitable donations relief

Chapter 2 U.K. Certain payments to charity

Interpretation U.K.

200 Company wholly owned by a charity U.K.

(1) For the purposes of this Chapter a company is wholly owned by a charity if condition A or B is met.

(2) Condition A is that—

(a) the company has an ordinary share capital, and

(b) every part of that share capital is owned by a charity (whether or not the same charity).

(3) Condition B is that—

(a) the company is limited by guarantee, and

(b) every beneficiary of the company is or must be a charity or a company wholly owned by a charity.

(4) Ordinary share capital of a company is treated as owned by a charity if a charity—

(a) directly or indirectly owns that share capital within the meaning of Chapter 3 of Part 24, or

(b) would be taken so to own it if references in that Chapter to a body corporate included references to a charity which is not a body corporate.

[F1 (4A) In the case of a charity which is a registered club, ordinary share capital of a company is treated as owned by a charity if the charity beneficially owns that share capital.]

(5) A beneficiary of a company is a person who—

(a) is beneficially entitled to participate in the company's divisible profits, or

(b) will be beneficially entitled to share in any of the company's net assets available for distribution on its winding up.

Textual Amendments

F1 S. 200(4A) inserted (with effect in accordance with s. 35(13)(14) of the amending Act) by Finance Act 2014 (c. 26), s. 35(4)

Modifications etc. (not altering text)

C1 S. 200 applied (with modifications) by 2007 c. 3, s. 809ZJ(9) (as inserted (with effect in accordance with Sch. 3 paras. 27, 28 of the amending Act) by Finance Act 2011 (c. 11), Sch. 3 para. 1)

201 Associated persons U.K.

For the purposes of this Chapter a person is associated with a company if the person is connected with—

(a) the company, or

(b) a person connected with the company.

202 “Charity” U.K.

In this Chapter “charity” [F2 includes]—

F3 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F4 (aa) a registered club,]

(b) a scientific research association (as defined in section 469),

(c) the Trustees of the National Heritage Memorial Fund, [F5 or]

(d) the Historic Buildings and Monuments Commission for England, F6 ...

F6 (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2 Word in s. 202 substituted (with effect in accordance with art. 21 of the commencing S.I.) by Finance Act 2010 (c. 13), Sch. 6 paras. 27(2)(a), 34(2); S.I. 2012/736, art. 21

F3 S. 202(a) omitted (with effect in accordance with art. 21 of the commencing S.I.) by virtue of Finance Act 2010 (c. 13), Sch. 6 paras. 27(2)(b), 34(2); S.I. 2012/736, art. 21

F4 S. 202(aa) inserted (with effect in accordance with s. 35(13)(14) of the amending Act) by Finance Act 2014 (c. 26), s. 35(5)

F5 Word in s. 202(2)(c) inserted (1.4.2012) by The Public Bodies (Abolition of the National Endowment for Science, Technology and the Arts) Order 2012 (S.I. 2012/964), arts. 1(2), 3(1), Sch.

F6 S. 202(2)(e) and word omitted (1.4.2012) by virtue of The Public Bodies (Abolition of the National Endowment for Science, Technology and the Arts) Order 2012 (S.I. 2012/964), arts. 1(2), 3(1), Sch.

[F7 202A “Registered club” U.K.

In this Chapter “registered club” has the meaning given by section 658(6) (clubs registered as community amateur sports clubs).]

Textual Amendments

F7 S. 202A inserted (with effect in accordance with s. 35(13)(14) of the amending Act) by Finance Act 2014 (c. 26), s. 35(6)