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.
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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…
The resultant appeals would then be heard by the Lord Chancellor, a clergy who was the principle minister by then1. Although the principles of Trust and Equity would later be transformed into the rigid practices of the Crown Courts, recent times have realized more widespread application of the principles of equity and trust, more so in civil cases.
This scenario relates to trust law that regulates the relationship of one party’s property benefitting another; the property can either be transferred from one party to benefit a third party or the legal owner may create a trust of property without necessarily transferring to a third party.
Running head: TO HIS LOVE 1 Written Project in Critical Reading of English Literature To His Love By Lamia BENMOUSSA Lamia Benmoussa 2 Introduction Ivor Gurney, considered to be one of the greatest British poets from the World War I era, was born in Gloucester, on August 28th, 1890 (John Lucas, 2001).
"While it is said that equity will not perfect an imperfect gift by imposing a trust where none is intended, yet there are instances where trusts are created without the parties being aware of its creation". There are many ways that trust can be arranged and be specific on how these assets can be passed to the beneficiaries.
nother; the property can either be transferred from one party to benefit a third party or the legal owner may create a trust of property without necessarily transferring to a third party.
4. In the first clause he offers income from his building society shares to be for Ben as
Such relationships are governed by the force of law of equity and trust law provides mechanism for a number of pension funds, charities, and family relationships among other situations (Hudson, 2005, p. 19). This discussion
8 pages (2000 words)Essay
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