Commentary

D9.438 Charitable trusts

Corporate tax
Corporate tax | Commentary

D9.438 Charitable trusts

Corporate tax | Commentary

D9.438 Charitable trusts

Where interest received by a charitable trust is exempt from tax under ITA 2007, ss 532, 533 that interest is excluded from the accrued income scheme1.

Where securities held on charitable trusts cease to be subject to those trusts, the trustees are treated as having transferred the securities at that time to themselves in a different capacity2. This means that in their new capacity as trustees of a non-charitable trust they will incur an AIL or realise an AIP according to whether or not they receive the next payment of interest.

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