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

the lottery is promoted and conducted in accordance with section 3 or 5 of the M1Lotteries and Amusements Act 1976 or Article 133 or 135 of the M2Betting, Gaming, Lotteries and Amusements (Northern Ireland) Order 1985; and

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.