Finance Act 2000

44 Gifts to charity from certain trusts.U.K.

F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)Where in any year of assessment qualifying income arising under a [F2trust the trustees of which are resident in the United Kingdom (a “UK trust”)] exceeds the amount of that income falling within [F3section 628(1) or 630(1) of ITTOIA 2005], any management expenses for that year shall be rateably apportioned between—

(a)so much of that income as is equal to that amount; and

(b)so much of that income as exceeds that amount.

[F4(5)In this section—

  • “qualifying income” has the same meaning as in section 628 of ITTOIA 2005; and

  • “resident”, in relation to the trustees of a trust, shall be construed in accordance with section 110 of the Finance Act 1989.]

(6)This section has effect in relation to qualifying income arising to a UK trust on or after 6th April 2000.

Textual Amendments