Transcription of ILM Approved Factsheet on Section 117 Charities …
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ILM Approved Factsheet on Section 117 Charities Act 2011 August 2012 Prepared for ILM by Henmans LLP Introduction Section 117 Charities Act 2011 (previously s36 Charities Act 1993) was enacted in order to ensure that Charities are dealing properly with the disposition of real property in which they have an interest. Unfortunately, a number of confusing issues have arisen where land is bequeathed to Charities by Will. This Factsheet attempts to clarify some of the areas most commonly encountered by legacy officers and PR's. It has been settled by Christopher McCall QC on the basis of his Opinion, which may be appended to this Factsheet .
ILM Approved Factsheet on Section 117 Charities Act 2011 – August 2012 When the gain is below the PR's CGT allowance; When the property is not likely to gain at all;
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