Part III Income Tax, Corporation Tax and Capital Gains Tax
Miscellaneous
138 Charities, etc.: lotteries.
1
In section 505 of the Taxes Act 1988 (charities: general) in subsection (1) (exemptions) after paragraph (e) there shall be inserted—
f
exemption from tax under Schedule D in respect of profits accruing to a charity from a lottery if—
i
ii
the profits are applied solely to the charity’s purposes.
2
Subsection (1) above shall apply to chargeable periods beginning—
a
in the case of a company, after 31st March 1995; and
b
in any other case, after 5th April 1995.