Exemption for chargeable gainsU.K.
7A gain accruing to a registered club shall not be a chargeable gain if—
(a)the whole of the gain is applied for qualifying purposes, and
(b)the club makes a claim under this paragraph to the Inland Revenue.
7A gain accruing to a registered club shall not be a chargeable gain if—
(a)the whole of the gain is applied for qualifying purposes, and
(b)the club makes a claim under this paragraph to the Inland Revenue.