BIM50301 - Agricultural societies: profits from shows or exhibitions

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

Profits or gains 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. You should assess any other income of the society, that is outside the scope of this exemption, in the normal way unless the society claims that it is entitled to the charitable exemption in ICTA88/S505. You should refer any claim to charitable status or other points of particular doubt or difficulty in this area to IR (Charities), Bootle.