S108-S110 Income Tax (Trading and Other Income) Act 2005 (ITTOIA 2005), S105-S106 and S108 Corporation Tax Act 2009 (CTA 2009)

No proceeds brought into trading profits where trading stock gifted to qualifying organisations

Traders are able to obtain relief for donations of trading stock to certain bodies under S108 ITTOIA 2005 for unincorporated businesses and S105 CTA 2009 for companies. If the conditions are met, no amount is brought into account as a receipt in calculating the trading profits in relation to the stock given away.

This relief is available if the trader gives an ‘article’, which is manufactured or sold in the course of his trade, to:

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.