Corporation Tax Act 2010 section 489

Exemption for income from estates in administration

Section 489 provides a corporation tax exemption for estate income received by a charitable company, provided the income is applied to the charitable company's purposes and a claim is made.

• Estate income received by a charitable company is excluded from total profits for corporation tax purposes
• The exemption applies only to the extent that the estate income is used for the charitable company's own charitable purposes
• The charitable company must make a formal claim to benefit from this exemption
• The exemption allows the charitable company to recover any income tax already suffered by the personal representatives of the estate