Introduction Overview Overview Section 467: Meaning of “charitable company”
1431.This section defines “charitable company” for the purposes of this Part and is based on section 506(1) of ICTA, section 25(12) of FA 1990, section 46(6) of FA 2000 and section 83(5) of FA 2004.
1432.The effect of splitting the source legislation between income tax and corporation tax is that the income tax rules apply to charities constituted in the form of charitable trusts while the corporation tax rules apply to charitable companies.
1433.The definition of charitable company therefore includes charities constituted as unincorporated associations and charities incorporated by Royal Charter.
1434.A definition of a “charity” is included in section 1119 of this Act. The definition for income tax is in section 989 of ITA.