HC Deb 08 November 1955 vol 545 c174W
79. Mr. Albu

asked the Chancellor of the Exchequer how far a donation by a joint stock company to an educational trust receives relief from Income and Profits Tax.

Mr. R. A. Butler

A donation for technical education may be an admissible expense for Income Tax and Profits Tax purposes under Section 140 of the Income Tax Act, 1952, if the education is directly related to the donor's trade. Small annual subscriptions by a company which has direct business connection with the trust may also be admissible. Further, effective relief from Income Tax may be obtainable for donations made under deed of covenant.