Corporation Tax Act 2009 section 1284

Housing grants

Section 1284 exempts from corporation tax certain grants and contributions made under legislation to assist with the provision, maintenance or improvement of housing or residential accommodation.

• Grants or contributions paid under any enactment for providing, maintaining or improving housing or residential accommodation are exempt from corporation tax.
• The exemption applies regardless of whether the payment is made directly to the person who incurs the expenses, or whether the expenses have already been incurred or are yet to be incurred.
• The exemption does not apply to the extent that the payment relates to an expense which is deductible in calculating income for corporation tax or income tax purposes.
• The provision reflects devolution settlements, meaning grants made under equivalent housing legislation across the United Kingdom are covered.