Section 256B | How gains are attributed to the non-exempt amount: charitable trusts ^F1

(1)This section is about the ways in which attributable gains can be attributed to a non-exempt amount under section 256A.

(2)The trustees of the charitable trust may specify the attributable gains that are to be attributed to the non-exempt amount.

(3)A specification under subsection (2) is made by notice to an officer of Revenue and Customs.

(4)Subsection (6) applies if—

(a)an officer of Revenue and Customs requires the trustees of a charitable trust to make a specification under this section, and

(b)the trustees have not given notice under subsection (3) of the specification before the end of the required period.

(5)The required period is 30 days beginning with the day on which the officer made the requirement.

(6)An officer of Revenue and Customs may determine the attributable gains that are to be attributed to the non-exempt amount.