Commentary on Sections Overview Section 519: Meaning of “charitable trust”
1554.This section defines “charitable trust” for the purposes of this Part. It is based on section 506(1) of ICTA.
1555.The effect of splitting the source legislation between income tax and corporation tax is that the income tax rules apply only to charities constituted in the form of trusts. Schedule 1 to this Act accordingly makes appropriate consequential amendments to the rules (eg in ICTA) relating to charitable companies.
1556.The definition of charitable trust does not include anything coming within the definition of “company” in section 832(1) of ICTA, so charities constituted as unincorporated associations and charities incorporated by Royal Charter are excluded from the definition of “charitable trust”.