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Compose a 2500 words essay on Trusts and Charities: Validity of Ivor Fortunes Provisions in his Will. Needs to be plagiarism free!Once property has been donated to the ‘common pot’ of charity it c
Compose a 2500 words essay on Trusts and Charities: Validity of Ivor Fortunes Provisions in his Will. Needs to be plagiarism free!
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.