94(1)Amend section 505 (charities: general) as follows.
(2)In subsection (1)—
(a)in paragraph (a) omit “, or under Parts 2 and 3 of ITTOIA 2005,”,
(b)in paragraph (c)—
(i)in sub-paragraph (ii) omit the words from “or under Chapter 2, 7, 8 or 10” to the end of the sub-paragraph,
(ii)omit sub-paragraphs (iiaa) and (iii), and
(iii)for “charity” substitute “charitable company”,
(c)in paragraph (d) omit “or Chapter 2 of Part 4 of ITTOIA 2005 (interest)”,
(d)in paragraph (e)—
(i)omit “or Part 2 of ITTOIA 2005 (trading income)”, and
(ii)for “charity”, in each place where it occurs, substitute “charitable company”, and
(e)in paragraph (f)—
(i)omit “or Part 2 or 5 of ITTOIA 2005 (trading and miscellaneous income)”,
(ii)for “charity” substitute “charitable company”, and
(iii)in sub-paragraph (ii) for “charity's” substitute “charitable company's”.
(3)In subsection (1AA) for “(1)(c)(iiaa) and (iib)” substitute “(1)(c)(iib)”.
(4)In subsection (1B) for “charity” substitute “charitable company”.
(5)In subsection (2)—
(a)in paragraph (a), for “a charity” substitute “a charitable company”,
(b)in paragraph (c) for “tax” substitute “corporation tax”, and
(c)omit the words from “chargeable to income tax” to “and shall be”.
(6)In subsection (4)—
(a)for “charity” substitute “charitable company”, and
(b)for “a chargeable” substitute “an accounting”.
(7)In subsection (5)—
(a)for “a chargeable” substitute “an accounting”, and
(b)for “charity's” substitute “charitable company's”.
(8)In subsection (6) for “a chargeable” in both places where it occurs substitute “an accounting”.
(9)In subsection (7)—
(a)for “charity's” substitute “charitable company's”, and
(b)for “charity” in each place where it occurs substitute “charitable company”.
(10)In the sidenote for “Charities” substitute “Charitable companies”.