Related Commentary  

526(1)  The income mentioned in subsection (2) is not taken into account in calculating total income if conditions A and B are met.

526(2)  The income referred to in subsection (1) is–

(a)the profits of a trade carried on by a charitable trust,

(b)amounts treated as adjustment income of a charitable trust under section 228 of ITTOIA 2005 in respect of a trade carried on by the trust, and

(c)post-cessation receipts arising from a trade carried on by a charitable trust which are received by the trustees of the trust or to which they are entitled.

526(3)  Subsection (1) does not apply in respect of–

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