Part 11Charitable companies etc
Chapter 4Restrictions on exemptions
Substantial donor transactions
510Substantial donor transactions: supplementary
(1)
In sections 502 to 508—
(a)
a reference to a substantial donor or other person includes a reference to a person connected with the donor or other person,
(b)
“financial assistance” includes, in particular—
(i)
the provision of a loan, guarantee or indemnity, and
(ii)
entering into alternative finance arrangements within the meaning of section 564A(2) of ITA 2007 or section 501(2) of CTA 2009, and
(c)
a reference to a gift of a specified amount includes a reference to a non-monetary gift of that value.
(2)
On an appeal against an assessment the tribunal may affirm or replace a decision of an officer of Revenue and Customs under section 504 or 507.
(3)
The Treasury may by regulations vary a sum, or a period of time, specified in section 502(2).
(4)
Section 1124 (meaning of “control”) does not apply for the purposes of section 508(4) or 509(2).