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HMRC internal manual

Business Income Manual

HM Revenue & Customs
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Particular trades: agricultural societies

Profits from shows exempt where solely applied to the society’s purposes

Profits arising to an agricultural society from shows or exhibitions held for the purposes of the society are exempt from tax so long as they are applied solely for the purposes of the society. Any other income of the society that is outside the scope of this exemption, is chargeable to tax in the normal way unless the society claims that it is entitled to the exemptions for charities. You should refer any claim to charitable status or other points of particular doubt or difficulty in this area to Charities, Bootle.