{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-481",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-481.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/481",
  "kind": "section",
  "number": "481",
  "heading": "Exemption from charges under provisions to which section 1173 applies",
  "text": "(1) Any income or gains of a charitable company that is or are chargeable to corporation tax under or by virtue of any provision to which section 1173 applies is not or are not taken into account in calculating total profits if conditions A and B are met.\n(2) Subsection (1) does not apply in respect of any income or gains that is or are chargeable to corporation tax by virtue of any of—\n(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(b) section 1086(2) (chargeable payments connected with exempt distributions), and\n(c) any other enactment specified in an order made by the Treasury.\n(3) Subsection (1) does not apply in respect of any income that is, or gains that are, apart from this section, exempt from corporation tax chargeable under or by virtue of any provision to which section 1173 applies.\n(4) Condition A is that the income is, or the gains are, for an accounting period in relation to which the condition specified in section 482 (condition as to trading and miscellaneous incoming resources) is met.\n(5) Condition B is that the income is, or the gains are, applied to the purposes of the charitable company only.\n(6) The exemption under subsection (1) requires a claim.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 481(2)(a) omitted (with effect in accordance with s. 81 of the amending Act and also with effect in accordance with Finance (No. 2) Act 2017 (c. 32), s. 39(1)(2)) by virtue of Finance Act 2016 (c. 24), s. 77(3)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 481, 482 modified (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 6(6)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/481",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}