SCHEDULES
SCHEDULE 25Amendments connected with Gambling Act 2005
Part 1Amendments of the Tax Acts
Exemption from corporation tax for profits of charitable companies from certain lotteries
F11
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Exemption from income tax for profits of charitable trusts from certain lotteries
I12
In section 530(2) of ITA 2007 (charitable trusts: exemption for profits from lotteries), for paragraph (a) (together with the “or” following it) substitute—
a
the lottery is an exempt lottery within the meaning of the Gambling Act 2005 by virtue of Part 1 or 4 of Schedule 11 to that Act,
ab
the lottery is promoted in accordance with a lottery operating licence within the meaning of Part 5 of that Act, or