2A

Subsection (2B) applies if relief is available under Chapter 3 of Part 8 of ITA 2007 or section 587B of the Taxes Act (gifts of shares, securities and real property to charities) in relation to the disposal of a qualifying investment to a charity (whether or not a claim for relief is actually made).

2B

The consideration for which the charity's acquisition of the qualifying investment is treated by virtue of subsection (2) above as having been made—

a

is reduced by the relievable amount if relief in relation to the disposal is available only under Chapter 3 of Part 8 of ITA 2007,

b

is reduced by the relevant amount if relief in relation to the disposal is available only under section 587B of the Taxes Act,

c

is reduced by the relievable amount if relief in relation to the disposal is available both under that Chapter and that section as a result of section 442 of ITA 2007 and section 587BA of the Taxes Act, or

d

is reduced to nil if that consideration is less than the amount referred to in paragraph (a), (b) or (c) (as the case may be).

2C

In subsections (2A) and (2B)—

• “qualifying investment” has the same meaning as in Chapter 3 of Part 8 of ITA 2007 (see section 432 of that Act),

• “relevant amount” has the same meaning as in section 587B of the Taxes Act, and

• “relievable amount” has the same meaning as in Chapter 3 of Part 8 of ITA 2007 (see section 434 of that Act).