The following Trusts and Inheritance Tax guidance note Produced by Tolley in association with Speechly Bircham LLP provides comprehensive and up to date tax information covering:
Most trustees are unpaid and must not benefit in any way from their charity trusteeship. However, they are entitled to receive payment of reasonable and necessary expenses from the charity’s funds, for example travel and other costs of attending meetings.
A charity trustee may only be paid for serving as a trustee where the payment is in the interests of the charity. There is no general power in law for this type of payment. A charity would need a specific authority in the governing document or authority would need to be given by the Charity Commission or the courts.
See the Trustee expenses and payments guidance published by the Charity Commission.
Charity trustees have a duty to identify and manage conflicts of interest. A conflict of interest is any situation in which a trustee’s personal interests, or interests that they owe to another body, may influence or affect their decision making.
Trustees must not receive any benefit from their charity in return for any goods or services they provide to the charity unless they have express legal authority to do so. Such authority may exist in the charity's governing document, or where there is no adequate provision in the governing document, trustees may approach the Charity Commission or the Court for consent. In all cases, it is essential that any conditions attached to the authority are strictly followed.
Generally, a charity trustee cannot become an employee of the charity and an employee cannot become a charity trustee.
Any charity trustee (including a director of a charitable company) who breaks these rules may have to refund the charity for any benefits they have received, or make good any loss to the char
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