257 Gifts to charities etc
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

257  Gifts to charities etc

(1)     Subsection (2) below shall apply where a disposal of an asset is made otherwise than under a bargain at arm's length—

(a)     to a charity [or a registered club], or

(b)     to any bodies mentioned in Schedule 3 to the Inheritance Tax Act 1984 (gifts for national purposes, etc)

[and the disposal is not one in relation to which section 151A(1) has effect.]

(2)     Sections 17(1) and 258(3) shall not apply; but if the disposal is by way of gift (including a gift in settlement) or for a consideration not exceeding the sums allowable as a deduction under section 38, then—

(a)     the disposal and acquisition shall be treated for the purposes of this Act as being made for such consideration as to secure that neither a gain nor a loss accrues on the disposal, and

(b)     where, after the disposal, the asset is disposed of by the person who acquired it under the disposal,

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