Related Commentary  Related HMRC Manuals

483(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.

483(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.

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