188U.K.The Inheritance Tax Act 1984 is amended as follows.
189(1)Amend section 23 (gifts to charities) as follows.U.K.
(2)In subsection (1) at the end insert “ or registered clubs ”.
(3)In subsection (5)—
(a)at the beginning insert “ In the case of any property which is given to charities, ”, and
(b)after “in relation to” insert “ the ”.
(4)After that subsection insert—
“(5A)In the case of any property which is given to a registered club, subsection (1) above shall not apply in relation to the property if it or any part of it may become applicable for purposes other than—
(a)the purposes of the club in question;
(b)the purposes of another registered club;
(c)the purposes of the governing body of an eligible sport for the purposes of which the club in question exists; or
(d)charitable purposes.”
(5)For subsection (6) substitute—
“(6)For the purposes of this section—
(a)property is given to charities if it becomes the property of charities or is held on trust for charitable purposes only; and
(b)property is given to registered clubs if it becomes the property of registered clubs or is held on trust for purposes of registered clubs only;
and “donor” shall be construed accordingly.
(7)For the purposes of this section “registered club” and “eligible sport” have the same meaning as in Chapter 9 of Part 13 of the Corporation Tax Act 2010.”
(6)In the title at the end insert “ or registered clubs ”.
190U.K.In section 96 (preference shares disregarded) for “section 210(4) of the Taxes Act 1988” substitute “ section 1023(5) of the Corporation Tax Act 2010 ”.
191U.K.In section 102(1) (interpretation), in the definition of “participator”, for “for the purposes of Chapter I of Part XI of the Taxes Act 1988” substitute “ within the meaning given by section 454 of the Corporation Tax Act 2010 ”.
192U.K.In Schedule 3, in the entry for “health service body”, for “section 519A of the Income and Corporation Taxes Act 1988” substitute “ section 986 of the Corporation Tax Act 2010 ”.