Charities: tax considerations in buying and selling buildings

Charities can improve the tax value of buildings they sell and should then be able to negotiate a better price.

Charities are not usually liable to tax, and therefore capital allowances do not normally apply. But when a charity buys or sells a building the other party's tax position is important. Because of the 2014 rule changes around property transactions, it is essential to keep records of capital expenditure, including a value of the fixtures. This may allow the charity to improve the inherent tax value of the building and market the property for increased sale consideration.

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