Charity Property Transactions Update
Changes to the way a charity can deal with property have been made by the Charities Act 2022 which received Royal Assent on 24 February 2022. The Guidance Note: Charity Property Transactions has been updated to include changes in relation to charity property transactions which came into force on 14 June 2023. The changes include:
- Details of the expanded group of professionals who can now provide advice to charities in respect of disposals of land;
- The information that needs to be included in an adviser’s written report; and
- The ability for trustees to grant a lease of a residential premises for a term of up to 12 months to an employee for use as their home.
Further provisions of the Charities Act 2022 have still to be implemented and any changes required to the charity property content will be made as and when those provisions come into effect.
For a summary of the changes on other topics under this Act, please see our information pages on the Charities Act 2022.
The contents of this Newsletter are for reference purposes only and do not constitute legal advice. Independent legal advice should be sought in relation to any specific legal matter.