PART 6APPLICATION OF PROPERTY CY-PRÈS AND ASSISTANCE AND SUPERVISION OF CHARITIES BY COURT AND COMMISSION
Establishment of common investment or deposit funds
45Meaning of “Scottish recognised body” and “England and Wales charity” in sections 43 and 44
1
In sections 43 and 44 “Scottish recognised body” means a body—
a
established under the law of Scotland, or
b
managed or controlled wholly or mainly in or from Scotland,
to which the Commissioners for Her Majesty's Revenue and Customs have given intimation, which has not subsequently been withdrawn, that relief is due under F1section 505 of the Income and Corporation Taxes Act 1988 (c. 1) or Part 10 of the Income Tax Act 2007 (c. 3) F2, or that qualifying relief is due under Part 11 of the Corporation Tax Act 2010, in respect of income of the body which is applicable and applied to charitable purposes only.
2
In those sections “England and Wales charity” means an institution—
a
which is a charity under the law of England and Wales, and
b
to which the Commissioners for Her Majesty's Revenue and Customs have given intimation, which has not subsequently been withdrawn, that relief is due under F3section 505 of the Income and Corporation Taxes Act 1988 or Part 10 of the Income Tax Act 2007 F4, or that qualifying relief is due under Part 11 of the Corporation Tax Act 2010, in respect of income of the institution which is applicable and applied to charitable purposes only.
F53
For the purposes of this section relief under any provision of Part 11 of the Corporation Tax Act 2010 other than—
a
section 480 (exemption for profits of small-scale trades), and
b
section 481 (exemption from charges under provisions to which section 1173 applies),
is qualifying relief under that Part.