Q&As

What is the tax treatment of gifting the proceeds of sale of a property to a charity versus gifting the property itself to charity?

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Published on LexisPSL on 15/08/2017

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • What is the tax treatment of gifting the proceeds of sale of a property to a charity versus gifting the property itself to charity?
  • Sale of property and gift of money
  • CGT
  • Income tax
  • Gift of property
  • CGT
  • Income tax

What is the tax treatment of gifting the proceeds of sale of a property to a charity versus gifting the property itself to charity?

It has been assumed that the individual and charity are UK based (UK resident and domiciled in the case of the individual and established in and subject to the jurisdiction of England and Wales in the case of the charity) and that the property is located in the UK.

Sale of property and gift of money

CGT

When an individual sells property, they are disposing of a chargeable asset that may realise a gain which is subject to capital gains tax. See Practice Note: Introductory guide to CGT. To

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