# Income Tax (Trading and Other Income) Act 2005, Paragraph 58


(1) Amend section 84 (gifts to educational establishments) as follows.
(2) In subsection (1)—
(a) for “a person carrying on a trade, profession or vocation” substitute “ a company carrying on a trade or profession ”, and
(b) for “his trade” substitute “ its trade ”.
(3) In subsection (3)—
(a) for “the purposes of the Tax Acts” substitute “ corporation tax purposes ”, and
(b) for “his disposal” substitute “ its disposal ”.
(4) In subsection (3A) for “above is—” to the end substitute “ the period of two years beginning at the end of the accounting period in which the gift is made. ”
(5) Omit subsection (3B).
(6) In subsection (4)—
(a) after “in respect of the gift of an article” insert “ made by the donor ”,
(b) for “chargeable period”, in both places where it occurs, substitute “ accounting period ”,
(c) for “him” substitute “ the donor ”,
(d) before “tax”, in both places where it occurs, insert “ corporation ”, and
(e) for “he” substitute “ the donor ”.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/schedule/1/paragraph/58 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-1/paragraph-58
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.