This section applies if a charitable company has a non-exempt amount under section 493 of CTA 2010 for an accounting period.
Attributable gains of the charitable company for the period may be attributed to the non-exempt amount but only so far as the non-exempt amount has not been used up.
The non-exempt amount can be used up (in whole or in part) by—
attributable gains being attributed to it under this section, or
attributable income being attributed to it under section 494 of CTA 2010.
The whole of the non-exempt amount must be used up by—
attributable gains being attributed to the whole of it under this section,
attributable income being attributed to the whole of it under section 494 of CTA 2010, or
a combination of attributable gains being attributed to some of it under this section and attributable income being attributed to the rest of it under section 494 of CTA 2010.
In this section and section 256D a charitable company's "attributable income" and "attributable gains" for an accounting period have the same meaning as in Part 11 of CTA 2010 (see section 493 of that Act).
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