Section 489 | Exemption for income from estates in administration

(1)If a charitable company is liable for any corporation tax charged under section 934 of CTA 2009 (charge to tax on estate income), the estate income is not taken into account in calculating total profits.

(2)Subsection (1) applies so far as the estate income is applied to the purposes of the charitable company only.

(3)The exemption under subsection (1) requires a claim.

(4)In this section “estate income” has the same meaning as in Chapter 3 of Part 10 of CTA 2009 (see section 934 of that Act).