To obtain relief under ICTA88/S488 (
CTM40420), an association in Great
Britain must be approved for the purposes of the Section by the
relevant authority (in Northern Ireland, by the Department of the
Environment for Northern Ireland.
It is a condition of approval that the association is registered under the Industrial and Provident Societies Acts ( CTM40500 onwards) and is a housing association within the meaning of the Housing Associations Act 1985. When the relevant authority approves an association, it is provided with an official letter of approval with instructions to send one copy to the Office that deals with the association's accounts. Claims are to be made for a year of assessment (notwithstanding that the association is liable to CT (ICTA88/S488 (1)).