s 41 Charities: exemption for small trades etc
(1) In section 528 of ITA 2007 (exemption for small trades of charitable trust: condition that trading incoming resources etc do not exceed requisite limit) in subsection (6)(b) (the requisite limit)— (a) for “£5,000” substitute £8,000”, and (b) for “£50,000” substitute “ £80,000 ” . (2) The amendments made by subsection (1) have effect for the tax year 2019-20 and subsequent tax years. (3) Section 482 of CTA 2010 (exemption for small trades of charitable company: condition that trading incoming resources etc do not exceed requisite limit) is amended as follows. (4) In subsection (6)(b) (the requisite limit)— (a) for “£5,000” substitute “ £8,000 ” , and (b) for “£50,000” substitute “ £80,000 ” . (5) In subsection (7)— (a) for “£5,000” substitute £8,000”, and (b) for “£50,000” substitute “ £80,000 ” . (6) The amendments made by subsections (3) to (5) have effect in relation to accounting periods beginning on or after 1 April 2019.