Income Tax Act 2007 (c. 3)

Part 8 U.K. Other reliefs

Chapter 3 U.K. Gifts of shares, securities and real property to charities etc

Supplementary U.K.

445 Prohibition against double relief U.K.

(1) If a claim is made for relief under this Chapter in respect of a disposal—

(a) section 108 of ITTOIA 2005 (gifts of trading stock to charities etc) does not apply in relation to the disposal, and

(b) no relief in respect of the disposal is allowable under any other provision of the Income Tax Acts.

(2) For the effect on capital gains tax or corporation tax on chargeable gains where an individual is entitled to relief under this Chapter, see section 257(2A) to (2C) of TCGA 1992 (gifts to charities etc).

446 “Charity” to include exempt bodies U.K.

In this Chapter “charity” includes—

(a) the Trustees of the National Heritage Memorial Fund, [F1 and]

(b) the Historic Buildings and Monuments Commission for England, F2 ...

F2 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Word in s. 446 inserted (1.4.2012) by The Public Bodies (Abolition of the National Endowment for Science, Technology and the Arts) Order 2012 (S.I. 2012/964), arts. 1(2), 3(1), Sch.

F2 S. 446(c) and preceding word omitted (1.4.2012) by virtue of The Public Bodies (Abolition of the National Endowment for Science, Technology and the Arts) Order 2012 (S.I. 2012/964), arts. 1(2), 3(1), Sch.