Section 664 | Exemption for interest , gift aid and company gift income

(1)A club which is a registered club throughout an accounting period may make a claim for—^F1

(a)its interest income for that period, ...^F2

(b)its gift aid income for that period, and^F3

(c)its company gift income for that period,^F3

to be exempt from corporation tax if the whole of that interest income , gift aid income and company gift income is applied for qualifying purposes.

(2)If a club is a registered club for only part of an accounting period, this section has effect as if—

(a)that part were a separate accounting period, and

(b)the club's interest income for that separate accounting period were proportionately reduced.

(3)In this section—^F4

“company gift income”, in relation to a club, means gifts of money made to the club by companies which are not charities,

“interest income”, in relation to a club, means interest arising to the club that is not brought into account under section 297 of CTA 2009 (trading credits and debits brought into account under Part 3 of that Act as trading income), and

“gift aid income”, in relation to a club, means gifts made by individuals to the club which are qualifying donations for the purposes of Chapter 2 of Part 8 of ITA 2007 (gift aid).