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Trusts and Charities - Essay Example

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Trusts and Charities

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.
Until the enactment of Charities Act 2006, the preamble to the Charitable Uses Act 1601 (the Statute of Elizabeth) which established that certain purposes were to be construed as charitable, remained the source of the modern definition of charity. For any trust to be charitable it must be within the "spirit and intendment" of the statute. (Morice v. Bishop of Durham (1805) 9 Ves 399)
"schools of learning, free schools and scholars in universities"; "the education and preferment of orphans" and "the supportation, aid and help of young tradesmen, handicraftmen, and persons decayed" were considered to be for charitable purposes by the old Act.
In this respect the interpretation of education includes all forms of education and training which ensures some benefit to the public. Even though there is no contact with the public through teaching etc. the educational activity may solely consists of research. Thus the courts adopt a wide interpretation of education and trusts formed for the purpose of even upkeep of schools and museum is considered as charitable, however subject to their non-profit making nature.
Examples of more unusual charitable educational objects may be found in
the trust to finance the search for the Bacon/Shakespeare manuscripts (Re Hopkins WT [1965] Ch 669);
the promotion of the music of Delius (Re Delius [1957] Ch 299); and
the publication of the Law Reports (Incorporated Council of Law Reporting for England and Wales v. A-G [1972] Ch 73).
On these grounds the donation of 25,000 to School of Archaeology may be considered solely for charitable purposes.
But the fact that shortly before Ivor died, the School completed the translation of the Smenkhare inscriptions, and has now started work on the translation of ...Show more

Summary

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. Any gift which is given to charity is treated as having been given to charity as a whole…
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