Finance Act 2007 (c. 11)

SCHEDULES

SCHEDULE 25 U.K. Amendments connected with Gambling Act 2005

Part 1 U.K. Amendments of the Tax Acts

Exemption from corporation tax for profits of charitable companies from certain lotteries U.K.

F1 1 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 25 para. 1 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

Exemption from income tax for profits of charitable trusts from certain lotteries U.K.

2 U.K. 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”.

Commencement Information

I1 Sch. 25 para. 2 in force at 1.9.2007 by S.I. 2007/2532, art. 2