Section 495 — Corporation Tax Act 2010: How income is attributed to the non-exempt amount

How income is attributed to the non-exempt amount 495 1 This section is about the ways in which attributable income can be attributed to a non-exempt amount under section 494.

2 The charitable company may specify the attributable income that is to be attributed to the non-exempt amount.

3 A specification under subsection (2) is made by notice to an officer of Revenue and Customs.

4 Subsection (6) applies if—

a an officer of Revenue and Customs requires a charitable company to make a specification under this section, and b the charitable company has not given notice under subsection (3) of the specification before the end of the required period.

5 The required period is 30 days beginning with the day on which the officer made the requirement.

6 An officer of Revenue and Customs may determine the attributable income that is to be attributed to the non-exempt amount.