Section 491 — Corporation Tax Act 2010: Scientific research associations

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.