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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Charities: religious communities: excess allowable figures

ESC/B10 allows communities to treat a proportion of their aggregate income as income of the individual monks or nuns. The amount varies from year to year. It is referred to as an `allowable figure’. Where the aggregate allowable figures for the whole community exceed its income, the concession allows the excess to be set against capital gains.