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Changes over time for: Section 483
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Status:
Point in time view as at 14/03/2012.
Changes to legislation:
Corporation Tax Act 2010, Section 483 is up to date with all changes known to be in force on or before 27 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes to Legislation
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483Exemption for profits from fund-raising eventsU.K.
This section has no associated Explanatory Notes
(1)The profits of a trade carried on by a charitable company are not taken into account in calculating total profits so far as they—
(a)arise from an event that is VAT-exempt in relation to the company, and
(b)are applied to charitable purposes or transferred to a charity.
(2)The profits of a trade carried on by a body to which subsection (3) applies are not taken into account in calculating total profits so far as they—
(a)arise from an event that is VAT-exempt in relation to the body, and
(b)are applied to charitable purposes or transferred to a charity.
(3)This subsection applies to any voluntary organisation that is a qualifying body for the purposes of Group 12 of Schedule 9 to the Value Added Tax Act 1994 (fund-raising events by charities and other qualifying bodies).
(4)The exemptions under this section require a claim.
(5)For the purposes of this section an event is VAT-exempt in relation to a person if the supply of goods and services by that person in connection with the event would be exempt from value added tax under Group 12 of Schedule 9 to the Value Added Tax Act 1994.
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