Taxes Consolidation Act 1997 section 215

Certain profits of agricultural societies

Section 215 exempts from income tax the profits or gains of an agricultural society arising from a show or exhibition, provided those profits are applied solely for the purposes of the society.

• An agricultural society is any society or institution established to promote agriculture, horticulture, livestock breeding or forestry.
• Profits or gains from an exhibition or show held for the purposes of the society may qualify for exemption from income tax.
• The exemption applies only where the profits are applied solely to the purposes of the society.
• Both conditions must be met: the show must be held for the society's purposes, and the resulting profits must be used exclusively for those purposes.