Commentary

B1.445 Trading by public authorities

Business tax
Business tax | Commentary

B1.445 Trading by public authorities

Business tax | Commentary

Identifying a trade: miscellaneous

B1.445 Trading by public authorities

Local authorities are statutorily1 exempted from income tax in respect of their income and from corporation tax and capital gains tax. Were it not for this exemption, local authorities that carried on a trade for profit would be assessable to tax in the same manner as private trades.

The definition of 'local authority' and the statutory exemption are explained in D1.201A.

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