Qualifying charitable donations made by a company are allowed as deductions from the company's total profits in calculating the corporation tax chargeable for an accounting period.

They are deducted from the company's total profits for the period after any other relief from corporation tax other than group relief F1and group relief for carried-forward losses.

The amount of the deduction is limited to the amount that reduces the company's taxable total profits for the period to nil.

Except as otherwise provided, a deduction is allowed only in respect of qualifying charitable donations made by the company in the accounting period concerned.

The above provisions are subject to F2Chapter 2A of this Part, F3section 939F and to any other express exceptions in the Corporation Tax Acts.