Charities—tax

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Precedents
This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...
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9th Nov
Practice notes
Duty to distribute to the correct beneficiariesOn the termination of the trust, the trustees are under a duty to distribute the trust assets to the...
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9th Nov
Practice notes
Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...
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9th Nov
Practice notes
Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...
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9th Nov
Practice notes
Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...
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9th Nov
Practice notes
This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes
This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...
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Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan
Practice notes
When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...
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Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan
Practice notes
A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes
The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...
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9th Nov
Practice notes
On the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without capacity, in them...
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9th Nov
Practice notes
The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...
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Produced in partnership with Paul Davies of Clarke Willmott 12th Jan
Practice notes
A lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In contrast, gifts...
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9th Nov
Practice notes
CertaintyIn order for a settlor to create a private express trust the three certainties must be present, namely:•certainty as to the intention of the...
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9th Nov
Practice notes
What is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the settlor and beneficiary of the...
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Produced in partnership with Michael O’Sullivan of 5 Stone Buildings 12th Jan
Practice notes
The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or...
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9th Nov

Most recent Charities—tax content

Practice notes
FORTHCOMING CHANGE relating to freeports: Finance Bill 2021 includes provisions under which relief from stamp duty land tax will be available for...
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30th Apr
Practice notes
FORTHCOMING CHANGE: HMRC is in the process of revising Revenue and Customs Brief 12 (2020) on the VAT treatment of early termination fees and...
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Produced in partnership with Martin Scammell 29th Apr
Practice notes
This Practice Note considers the UK tax aspects of the establishment of a joint venture operated through a partnership. It is assumed for the purposes...
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Produced in partnership with Arun Birla of Paul Hastings, Hannah Gray of Paul Hastings and Miss Abigail Hung of Paul Hastings 18th Apr
Practice notes
When a person disposes of an asset and makes a profit that is capital in nature, this has the potential to be a taxable capital gain. When deciding...
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9th Apr
Practice notes
Once is has been determined that there is a notifiable transaction for SDLT purposes, it should be considered whether any reliefs or exemptions are...
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9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 9th Apr
Practice notes
This Practice Note is about the zero-rating of VAT for developers selling or leasing non-residential buildings that they have converted for...
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Produced in partnership with Martin Scammell 9th Apr
Practice notes
As a tax on property, rates have existed in some form since 1601. The framework currently in place was largely established by the Local Government...
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Produced in partnership with Alan Murdie of Council Tax Legal Services 9th Apr
Practice notes
What is Council tax and what is its purpose?The council tax was introduced as the primary source of collecting income from local residents by local...
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Produced in partnership with Alan Murdie of Council Tax Legal Services 9th Apr
Practice notes
UPDATE: In his 2015 Budget, the Chancellor indicated changes to the CGT regime. The Budget did not indicate that these changes affect issues raised in...
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9th Apr
Practice notes
There is no general relief for charities in respect of VAT chargeable on supplies made by them. Equally there is no relief for them in respect of...
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9th Apr
Practice notes
Many charities would not describe any of their activities as trading as they do not appear to conform to the traditional commercial trading model....
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9th Apr
Practice notes
There may come a time in the life of a charity when all prospects of avoiding a profit on fundraising have been exhausted. Patently a profit is not a...
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9th Apr
Practice notes
The tax treatment of a charityCharities are not exempt from taxation, but they do benefit from a number of specific tax reliefs.A charity does not...
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9th Apr
Practice notes
Qualifying organisationsThe following bodies are entitled to VAT exempt eligible fund raising events:•charities that meet the eligibility...
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9th Apr
Practice notes
A charity must complete and submit tax returns in three specific circumstances:•if served with a notice requiring it to file a return•if it has...
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9th Apr
Practice notes
There are a number of tax reliefs available for gifts to charities.Gift AidGift Aid is a way for charities or community amateur sports clubs (CASC) to...
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9th Apr
Practice notes
STOP PRESS: Finance Bill (No. 2) 2016 indicates that regulations will be introduced with effect from a date to be appointed to make provision for...
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9th Apr
Practice notes
Gift Aid donations to a charity are an essential part of their income but the tax repayment advantage that they offer can also be abused. HMRC are...
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9th Apr

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