Charity Commission (cc) consultation on draft regulations affecting permanently endowed trusts (pet)
These draft regulations mean that trustees of pets will be able to adopt a total return approach to investments without seeking prior permission from the cc. This means that investment returns will not be labelled capital or income, but that trustees who adopt the new power will be able to allocate the return in the way that they feel best furthers the charity’s aims now an in the future.
The draft regulations are out for consultation until 20 June 2013 and can be viewed at the cc website, www.charitycommission.gov.uk. It is expected that the regulations will be in place in October 2013.
Date: 7th May, 2013
Articles from this Author
Courtney Halifax features in Lexis Nexis re: changes to Principal Private Residence relief and lettings bill… twitter.com/i/web/status/1…
Well done to our tax team! twitter.com/ciotattlondon/…
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole