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Charity and property disposal

Charity and property disposal

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A client is a registered charity and holds an investment property that it rents out.  The rent is used for charitable purposes only.

If the property is sold and the proceeds also used for charitable purposes only, could anyone confirm that the charity would not be liable to CGT.

Any replies would be appreciated.

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By bkrajiv
15th May 2012 16:41

The charity is not liable to any CGT. But as far as I am aware you will need clearence from CC on this. There is a whole shpeel of disposal of L&B in the SORP and you may need to read this to ensure you / the trustees are fully compliant.

 

 

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By Chris Smail
17th May 2012 00:50

No tax but read CC28

Here

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