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Trusts and Charities: Validity of Ivor Fortunes Provisions in his Will - Essay Example

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Gifts which are intended to be for the benefit of mankind as distinct from for the benefit of individuals are characterised as charities. However, such gifts may or may not be regarded as charities depending upon the status of the recipient of the gift…
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Trusts and Charities: Validity of Ivor Fortunes Provisions in his Will
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Trusts and Charities: Validity of Ivor Fortunes Provisions in his Will

Download file to see previous pages... Once property has been donated to the ‘common pot’ of charity it can never be removed from the pot and applied for non-charitable purposes. There are many advantages being enjoyed by organisations having a charitable status, including fiscal advantages like exemption from payment of Income Tax, Inheritance Tax, Capital Gains Tax, Stamp Duty, VAT and Certain Local Taxes; of course all of these subject to the fulfilment of certain terms and conditions. Most of the rules regarding the administration of charities are now to be found in the Charities Act 1993 as amended by the Charities Act 2006. This paper intends to make an analysis of the gifts and donations made by one Ivor Fortune to certain charitable purposes through his will as to the validity of the gifts being of charitable nature based on the purposes and the proposed recipients before and after the enactment of the Charities Act 2006, which has made various amendments in this regard. ...Download file to see next pagesRead More
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