Corporation Tax Act 2010 section 503

Meaning of "relievable gift"

Section 503 defines what constitutes a "relievable gift" for the purposes of the gift aid relief provisions, by identifying the qualifying sources from which such gifts must originate.

• A "relievable gift" is a gift of money that qualifies for tax relief under the gift aid rules applicable to companies.
• The gift must come from a source that meets the specific criteria set out in the legislation to be treated as relievable.
• This definition works alongside the preceding section, which provides for the actual relief available when a company makes qualifying charitable donations.
• There is a corresponding income tax rule for individuals contained in separate legislation, but this section applies specifically to companies within the charge to corporation tax.