For tax purposes, deeds of covenant are classed as either
1) charitable
or
2) non-charitable.
Covenants set up to discharge a parental contribution are
always non-charitable. The decision maker should treat income from
charitable deeds of covenant as charitable or voluntary
payments as in DMG39255.
Non-charitable covenants set up on or after 15.3.88 do not
qualify for any tax relief.
