Part 5 Commencement and Transitional Provision
Finance Act 2011 (2011 c 11) | Legislation

Part 5 Commencement and Transitional Provision

Commencement

27

(1)     Subject to sub-paragraph (2), the amendments made by this Schedule have effect in relation to relievable charity donations made on or after 1 April 2011.

(2)     The repeals made by paragraphs 12 to 14, 16, 18 and 22 to 25 have effect in relation to any transaction, other than an excluded transaction, occurring on or after 1 April 2013.

(3)     A transaction is “excluded†if it is entered into in pursuance of a contract made before 1 April 2013, other than in pursuance of a variation of the contract made on or after that date.

Treatment of existing arrangements

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In the amendments made by Parts 1 and 2 of this Schedule, references to arrangements include arrangements made, or made and implemented, before 1 April 2011.

Treatment of substantial donor transactions

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(1)     For the purposes of section 549(2) of ITA 2007 (meaning of substantial donor), relievable gifts (within the meaning of section 550 of that Act) received by a charitable trust on or after 1 April 2011 are to be disregarded.

(2)     Sub-paragraphs (3) and (4) apply where—

(a)     a substantial donor

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