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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Charities

If a capital payment is received by a charity that qualifies for relief under TCGA92/S256 the charitable exemption applies if the payment is applicable and applied for charitable purposes. This view was confirmed in Tax Bulletin 36. The trustees’ section 2(2) amount is still reduced by the amount of the matched payment.