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Charities Update

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

 
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
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