Section 108 | Gifts of trading stock to charities etc.

(1)This section applies if a person carrying on a trade (“the donor”) gives an article for the purposes of—

(a)a charity, a registered club or a body listed in subsection (4), or

(b)a designated educational establishment (see section 110),

and the article is one manufactured, or of a class or description sold, by the donor in the course of the trade.

(2)In calculating the profits of the trade, no amount is required to be brought into account as a receipt in consequence of the disposal of the article.

(3)In this section “registered club” has the meaning given by section 658 of CTA 2010 (community amateur sports clubs).^F1

(4)The bodies referred to in subsection (1)(a) are—

(a)the Trustees of the National Heritage Memorial Fund,

(b)the Historic Buildings and Monuments Commission for England,

(c)Repealed^F2

(d)Repealed^F2

(e)Repealed^F3

(5)This section —^F4

(a)needs to be read with section 109 (receipt by donor or connected person of benefit attributable to certain gifts), and^F4F5

(b)is subject to sections 809ZM and 809ZMB of ITA 2007 (removal of income tax relief in respect of tainted charity donations etc).^F5F6