Section 530 Exemption for profits from lotteries

United Kingdom

(1)

The profits accruing to a charitable trust from a lottery are not taken into account in calculating total income if conditions A and B are met.

(2)

Condition A is that—

F1(a)

the lottery is an exempt lottery within the meaning of the Gambling Act 2005 by virtue of Part 1 or 4 of Schedule 11 to that Act,

(ab)

the lottery is promoted in accordance with a lottery operating licence within the meaning of Part 5 of that Act, or

(b)

the lottery is promoted and conducted in accordance with Article 133 or 135 of the Betting, Gaming, Lotteries and Amusements (Northern Ireland) Order 1985 (S.I. 1985/1204 (N.I. 11)).

(3)

Condition B is that the profits are applied to the purposes of the charitable trust only.

Annotations

Textual amendments

F1: S. 530(2)(a)(ab) substituted for s. 530(2)(a) (1.9.2007) by Finance Act 2007 (c. 11), Sch. 25 para. 2, 23(2); S.I. 2007/2532, art. 2