Taxes Consolidation Act, 1997

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Rents of properties belonging to hospitals and other charities.

[ITA67 s333 and s339(2) and (4); F(MP)A68 s3(4) and Sch PtIII; FA69 s65(1) and Sch5 PtI; CTA76 s140(1) and Sch2 PtI par13]

207.—(1) Exemption shall be granted—

(a) from income tax chargeable under Schedule D in respect of the rents and profits of any property belonging to any hospital, public school or almshouse, or vested in trustees for charitable purposes, in so far as those rents and profits are applied to charitable purposes only;

(b) from income tax chargeable—

(i) under Schedule C in respect of any interest, annuities, dividends or shares of annuities,

(ii) under Schedule D in respect of any yearly interest or other annual payment, and

(iii) under Schedule F in respect of any distribution,

forming part of the income of any body of persons or trust established for charitable purposes only, or which, according to the rules or regulations established by statute, charter, decree, deed of trust or will, are applicable to charitable purposes only, and in so far as the same are applied to charitable purposes only;

(c) from income tax chargeable under Schedule C in respect of any interest, annuities, dividends or shares of annuities in the names of trustees applicable solely towards the repairs of any cathedral, college, church or chapel, or any building used solely for the purposes of divine worship, and in so far as the same are applied to those purposes.

(2) (a) This subsection shall apply to every gift (within the meaning of the Charities Act, 1961 ) made before the 1st day of July, 1961, which, if it had been made on or after that day, would by virtue of section 50 of that Act (which relates to gifts for graves and memorials) have been, to the extent provided in that section, a gift for charitable purposes.

(b) Subsection (1) shall apply in relation to a gift to which this subsection applies as if the gift had been made on or after the 1st day of July, 1961.

(3) Every claim under this section shall be verified by affidavit, and proof of the claim may be given by the treasurer, trustee or any duly authorised agent.

(4) A person who makes a false or fraudulent claim for exemption under this section in respect of any interest, annuities, dividends or shares of annuities charged or chargeable under Schedule C shall forfeit the sum of £100.