Clive Cutbill and David Goepel of the Charities Group of Withers LLP review the current law and practice relating to charities' exposure to tax under Taxes Act 1988 s 776
Charities increasingly find themselves holding land and buildings as investment assets. Some will have received land by way of gifts from donors or legacies from testators; others may have purchased land in the past perhaps originally for the purposes of the charity or simply as an investment. In each case the charity's trustees will be looking to maximise the return they can obtain from what can be a very valuable asset.
Ordinarily if a charity makes a capital gain from the sale of an asset and applies the profit for its charitable purposes the gain will be exempt...
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Clive Cutbill and David Goepel of the Charities Group of Withers LLP review the current law and practice relating to charities' exposure to tax under Taxes Act 1988 s 776
Charities increasingly find themselves holding land and buildings as investment assets. Some will have received land by way of gifts from donors or legacies from testators; others may have purchased land in the past perhaps originally for the purposes of the charity or simply as an investment. In each case the charity's trustees will be looking to maximise the return they can obtain from what can be a very valuable asset.
Ordinarily if a charity makes a capital gain from the sale of an asset and applies the profit for its charitable purposes the gain will be exempt...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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