CG66641 - Gifts: to charities and certain other bodies

There is no charge to Capital Gains Tax if someone disposes of an asset by way of:

• a gift in the strict sense, see CG66451)

or

• a gift in settlement

or

• a sale at a price which does not exceed the allowable expenditure to the donor

and the disposal is to:

• a charity or an organisation listed in Schedule 3 IHTA 1984, see IHTM11224, see CG66642+ and TCGA92/S257

or

• a housing organisation, see CG66660+ and TCGA92/S259

or

• an employee trust, see CG36000+ and TCGA92/S239.

If you are in any doubt as to whether or not a particular organisation is a charity then you should refer to IR Charities.

If you are in any doubt about any of the other bodies listed in IHTM11224 you should refer to Capital Gains Technical Group.

The Income Tax relief for gifts to charity, introduced by Finance Act 2000, is briefly explained in CG66648.