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Part 10U.K.Special rules about charitable trusts etc

Non-charitable expenditureU.K.

545Section 543(1)(f): meaning of expenditureU.K.

(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.