Related Commentary  Related HMRC Manuals

532(1)  The income mentioned in subsection (2) is not taken into account in calculating total income if–

(a)it is income of a charitable trust, or

(b)it is required, under an Act, court judgment, charter, trust deed or will, to be applied to charitable purposes only.

532(2)  The income referred to in subsection (1) is–


(b)a dividend or other distribution of a UK resident company,

(c)a dividend of a non-UK resident company,

(d)an annuity payment under a purchased life annuity,

(e)profits on the disposal of deeply discounted securities, or

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