Income and Corporation Taxes Act 1988 (c. 1)

PART XII SPECIAL CLASSES OF COMPANIES AND BUSINESSES

CHAPTER VI MISCELLANEOUS BUSINESSES AND BODIES

507 The National Heritage Memorial Fund, the Historic Buildings and Monuments Commission for England and the British Museum

(1) There shall on a claim in that behalf to the Board be allowed in the case of—

(a) the Trustees of the National Heritage Memorial Fund;

(b) the Historic Buildings and Monuments Commission for England;

such exemption from tax as falls to be allowed under section 505 in the case of a charity the whole income of which is applied to charitable purposes.

(2) The Trustees of the British Museum and the Trustees of the British Museum (Natural History) shall each be entitled, on a claim in that behalf to the Board, to the following exemptions—

(a) exemption from tax under Schedules A and D in respect of any land, or interest in or right over land, vested in them; and

(b) the like exemptions in respect of any dividends of stock vested in them, or in any other person for their use, and in respect of distributions charged under Schedule F, as are granted to charities under section 505.