Section 1253 | Contributions to local enterprise organisations or urban regeneration companies: disqualifying benefits

(1)This section applies if—

(a)a deduction has been made under section 1219 by virtue of section 1244 (contributions to local enterprise agencies or urban regeneration companies: expenses of management), and

(b)the contributor or a connected person receives a disqualifying benefit that is in any way attributable to the contribution.

(2)The contributor is to be treated as receiving, when the benefit is received, an amount—

(a)which is equal to the value of the benefit (so far as not brought into account in determining the amount of the deduction), and

(b)to which the charge to corporation tax on income applies.

(3)In this section “disqualifying benefit” has the same meaning as in section 1244.