Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Readers’ forum: Offshore funds

15 March 2016
Issue: 4542 / Categories: Forum & Feedback

Is a charitable gift of an offshore non-reporting fund exempt from capital gains tax?

Our client has some interests in offshore funds both apparently ‘reporting’ subject to capital gains tax and ‘non-reporting’ subject to income tax. He is proposing to give his interests to charity.

I can see that the gift of the reporting fund will be exempt from capital gains tax and the charity can then cash in the fund within its own exemptions. However I cannot find an equivalent exemption for the transfer of a non-reporting offshore fund to charity. Is there one?

The alternative would be to cash in this fund and give the proceeds to charity under gift aid. But if that is the only mechanism that works it would be important to know that before making the gift.

Can any Taxation readers direct me to a specific exemption applicable to transferring offshore funds to charity or is the gift aid route the best approach?

Query 18 745 – Donor.



If you or your firm subscribes to, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.

back to top icon