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Finance Act 2014

Donations from companies to CASCs

20.Subsection (8) introduces amendments to Chapter 9 of Part 13 (community amateur sports clubs) to include donations from companies within the tax relief provisions for CASCs.

21.Subsections (9) and (10) set the tax treatment of gifts of money to CASCs by companies. Subsection (9) inserts new section 661E, which brings gifts of money by companies into the charge to corporation tax. Subsection (10) amends section 664 (exemption for interest and gift aid income) to relieve a gift of money by a company, referred to as ‘company gift income’, from the charge to corporation tax so long as the payment is used for qualifying purposes.

22.Subsections (11) and (12) make consequential amendments to reflect the changes brought about by this section.

23.Subsection (13) provides that the amendments made in this section have effect in relation to payments made on or after 1 April 2014.

24.Subsection (14) provides that the amendments enabling corporate gift aid for CASCs are to be ignored for the purposes of section 199 (payment attributed to earlier period) where the company makes a claim for the payment to be treated as a qualifying payment for an earlier accounting period ending before 1 April 2014. This prevents a company attributing a qualifying payment made under the new provisions to an accounting period ending before 1 April 2014.

25.Subsection (15) provides that the restriction on relief for payments to CASCs in earlier accounting periods under new section 202B (3) (where there is ‘inflated member-related expenditure’) does not apply in respect of accounting periods ending before 1 April 2014.

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