This is the original version (as it was originally enacted).
(1)This section applies if gifts of sums of money are made to charitable trusts by companies.
(2)But this section does not apply to a gift of a sum of money made by a company that is itself a charity (see section 523).
(3)Income tax is charged on the gifts under this section.
(4)It is charged on the full amount of the gifts arising in the tax year.
(5)But a gift is not taken into account in calculating total income so far as it is applied to charitable purposes only.
(6)The trustees of the charitable trust are liable for any tax charged under this section.
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