Section 209 — Corporation Tax Act 2010: Value of net benefit to charity

Value of net benefit to charity 209 1 For the purposes of this Chapter the value of the net benefit to a charity is—

a the relevant value of the qualifying investment, or b if the charity is, or becomes, subject to a disposal-related obligation, the relevant value of the qualifying investment reduced by the total amount of the disposal-related liabilities of the charity. 1A In subsection (1) “ relevant value ” means—

a where subsection (1B) applies, the lower of the market value and the acquisition value, and b otherwise, the market value. 1B This subsection applies where—

a the qualifying investment, or anything from which it derives or which it represents (whether in whole or in part and whether directly or indirectly), was acquired by the company making the disposal within the period of 4 years ending with the day on which the disposal is made, b the acquisition was made as part of a scheme, and c the main purpose, or one of the main purposes, of the company in entering into the scheme was to obtain relief, or an increased amount of relief, as a result of this Chapter. 1C In subsection (1B) “ scheme ” includes any scheme, arrangement or understanding of any kind, whether or not legally enforceable, involving a single transaction or two or more transactions.

2 This section is supplemented by—

a section 210 (market value of qualifying investments), aa section 210A (acquisition value of qualifying investments),

b section 211 (meaning of disposal-related obligation),

and c section 212 (meaning and amount of disposal-related liability).