SCHEDULES
SCHEDULE 14Gifts to the nation
PART 3Corporation tax
13The basic rule
1
If a company (“C”) makes a qualifying gift, a portion of C’s tax liability for the relevant accounting period is to be treated as satisfied, as if C had paid that portion when it became due (or on the offer registration date, if the portion became due before that date).
2
“The relevant accounting period” is the accounting period of C’s in which the offer registration date falls.