94(1)Amend section 505 (charities: general) as follows.U.K.
(2)In subsection (1)—
(a)in paragraph (a) omit “, or under Parts 2 and 3 of ITTOIA 2005,”,
(b)in paragraph (c)—
(i)in sub-paragraph (ii) omit the words from “or under Chapter 2, 7, 8 or 10” to the end of the sub-paragraph,
(ii)omit sub-paragraphs (iiaa) and (iii), and
(iii)for “charity” substitute “ charitable company ”,
(c)in paragraph (d) omit “or Chapter 2 of Part 4 of ITTOIA 2005 (interest)”,
(d)in paragraph (e)—
(i)omit “or Part 2 of ITTOIA 2005 (trading income)”, and
(ii)for “charity”, in each place where it occurs, substitute “ charitable company ”, and
(e)in paragraph (f)—
(i)omit “or Part 2 or 5 of ITTOIA 2005 (trading and miscellaneous income)”,
(ii)for “charity” substitute “ charitable company ”, and
(iii)in sub-paragraph (ii) for “charity's” substitute “ charitable company's ”.
(3)In subsection (1AA) for “(1)(c)(iiaa) and (iib)” substitute “ (1)(c)(iib) ”.
(4)In subsection (1B) for “charity” substitute “ charitable company ”.
(5)In subsection (2)—
(a)in paragraph (a), for “a charity” substitute “ a charitable company ”,
(b)in paragraph (c) for “tax” substitute “ corporation tax ”, and
(c)omit the words from “chargeable to income tax” to “and shall be”.
(6)In subsection (4)—
(a)for “charity” substitute “ charitable company ”, and
(b)for “a chargeable” substitute “ an accounting ”.
(7)In subsection (5)—
(a)for “a chargeable” substitute “ an accounting ”, and
(b)for “charity's” substitute “ charitable company's ”.
(8)In subsection (6) for “a chargeable” in both places where it occurs substitute “ an accounting ”.
(9)In subsection (7)—
(a)for “charity's” substitute “ charitable company's ”, and
(b)for “charity” in each place where it occurs substitute “ charitable company ”.
(10)In the sidenote for “Charities” substitute “ Charitable companies ”.