Part 11

Charitable companies etc
Chapter 3

Other exemptions

Application of exemptions to certain bodies

Scientific research associations
491
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.