The profits of a trade carried on by a charity are not taken into account in calculating total income in so far as they arise from a VAT-exempt event1. These are fundraising events by a charity or the supply of goods and services by the charity in connection with the event, which are exempt from VAT2. This legislation gives statutory effect to ESC C4 (trading activities for charitable purposes). The amendment by SI 2011/1037 is not required to CTA 2010, s 483 as the effect of the
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