Related Commentary  Related HMRC Manuals

535(1)  Offshore income gains accruing to a charitable trust are not taken into account in calculating total income.

535(2)  Subsection (1) applies if the gain is applicable and applied to charitable purposes only.

535(3)  In this section “offshore income gain”  has the same meaning as in Chapter 5 of Part 2 of the Offshore (Tax) Funds Regulations 2009 (S.I. 2009/3001).

535(4)  See regulation 31(3) to (5) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001), which–

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