Part 11Charitable companies etc

Chapter 3Other exemptions

Application of exemptions to certain bodies

491Scientific research associations

1

The provisions mentioned in subsection (3) (which confer exemptions) apply in relation to a body which qualifies as a scientific research association for the relevant accounting period as they apply in relation to a charitable company.

2

But in relation to such a body those provisions have effect as if the whole income of the body were applied to charitable purposes.

3

The provisions referred to in subsection (1) are—

a

sections 478 and 479 (profits of charitable trades),

b

section 483 (profits from fund-raising events),

c

section 484 (profits from lotteries),

d

section 485 (property income etc),

e

section 486 (investment income etc),

f

section 488 (certain miscellaneous income), and

g

section 489 (income from estates in administration).

4

In subsection (1) “the relevant accounting period” means the accounting period for which the exemption in question is to be claimed.