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HMRC internal manual

Company Taxation Manual

From
HM Revenue & Customs
Updated
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Corporation Tax: charitable donations relief: formerly charges on income: annuities or other annual payments

An annuity or other annual payment continues to be treated as a charge on income if it is a qualifying charitable payment within the meaning of ICTA88/S339, now CTA10/S190, or gift within ICTA88/S587B, now CTA10/S203.

Prior to 25 July 2002 ICTA88/S338 (7) specifically provided that any payment to which ICTA88/S125 (1) applied could not be a charge on income. ICTA88/S125 was about annual payments for non-taxable consideration.