SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Finance Act 2000 (c. 17)

392

1

Amend section 46 (exemption for small trades etc) as follows.

2

In subsection (1)—

a

omit paragraph (a) and the “or” at the end of that paragraph, and

b

for “charity” substitute “ charitable company ”.

3

In subsection (2) omit paragraph (a) and the “or” at the end of that paragraph.

4

In subsection (2A)—

a

in paragraph (a) for “, 790 or 804” substitute “ or 790 ”,

b

at the end of paragraph (b) insert “ and ”, and

c

omit paragraph (c) and the “and” at the end of that paragraph.

5

In subsection (3)—

a

for “a chargeable” substitute “ an accounting ”,

b

for “charity”, in both places where it occurs, substitute “ charitable company ”,

c

in paragraph (a) for “charity's” substitute “ charitable company's ”, and

d

in that paragraph for “chargeable” substitute “ accounting ”.

6

In subsection (4)(b)—

a

for “charity's” substitute “ charitable company's ”, and

b

for “chargeable” substitute “ accounting ”.

7

In subsection (5) for “a chargeable” substitute “ an accounting ”.

8

In subsection (6)—

a

in the appropriate place insert—

“charitable company” means any body of persons established for charitable purposes only;

b

omit the definition of “charity”,

c

in the definition of “gross income”, for “charity” substitute “ charitable company ”, and

d

in the definition of “income”—

i

for “charity” substitute “ charitable company ”, and

ii

omit paragraph (a) and the “or” at the end of that paragraph.

9

In subsection (7) omit the words from “for the year” to “companies,”.