Section 203 — Corporation Tax Act 2010: Certain disposals of investments

Certain disposals of investments 203 1 This section applies if—

a a company disposes of the whole of the beneficial interest in a qualifying investment to a charity, b the disposal is otherwise than by way of a bargain made at arm's length, c the company is not itself a charity, and d the company makes a claim.

2 The relievable amount is treated for corporation tax purposes as a qualifying charitable donation made by the company in the accounting period in which the disposal is made.

3 No relief in respect of the disposal is to be given under section 105 of CTA 2009 (gifts of trading stock to charities etc).

4 For the calculation of the relievable amount, see section 206.

5 If the qualifying investment is a qualifying interest in land, this section is subject to— section 213 (certificates), section 214 (qualifying interests in land held jointly), section 215 (calculation of relievable amount etc where joint disposal), and section 216 (disqualifying events).