Alan Thomson Senior Charities Tax Consultant at Chantrey Vellacott DFK takes this opportunity to look at the interaction of HMRC and the Charity Commission in relation to the disposal of charity land and buildings
When disposing of land and buildings charities expect to be able to make use of the exemption that is available to them under TCGA 1992 s 256: 'a gain shall not be a chargeable gain if it accrues to a charity and is applicable and applied for charitable purposes'.
Potential tax pitfalls
This is fairly straightforward and easy to understand. However it does not mean that the charity can ignore the rest of the TCGA 1992. In particular ...
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Alan Thomson Senior Charities Tax Consultant at Chantrey Vellacott DFK takes this opportunity to look at the interaction of HMRC and the Charity Commission in relation to the disposal of charity land and buildings
When disposing of land and buildings charities expect to be able to make use of the exemption that is available to them under TCGA 1992 s 256: 'a gain shall not be a chargeable gain if it accrues to a charity and is applicable and applied for charitable purposes'.
Potential tax pitfalls
This is fairly straightforward and easy to understand. However it does not mean that the charity can ignore the rest of the TCGA 1992. In particular ...
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:
