Part 10Special rules about charitable trusts etc
Non-charitable expenditure
545Section 543(1)(f): meaning of expenditure
(1)
For the purposes of section 543(1)(f) “expenditure” includes expenditure of a capital nature.
(2)
None of the following is “expenditure” for those purposes—
(a)
the investment of any of the charitable trust's funds,
(b)
the making of a loan by the charitable trust, or
(c)
the repayment by the charitable trust of the whole or a part of a loan made to it.