# Corporation Tax Act 2010, Section 477: Gifts of money from companies: exemption


(1) A gift of a sum of money that a body receives from a company is not taken into account in calculating total profits if the body receiving the gift qualifies as a scientific research association for the relevant accounting period.
(2) The exemption under subsection (1) requires a claim.
(3) In subsection (1) “the relevant accounting period” means the accounting period for which the exemption is to be claimed.
(4) In the case of a body which qualifies as a scientific research association and is also a charitable company, this section applies instead of section 473.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/477 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-477
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.