I’ve set up a charitable trust for my clients using the Charity Commission model trust deed. Client is transferring listed shares into the trust and needs an RCN in order to do so.
I’ve tried to register the trust but it’s been rejected because I can’t provide proof of income. But there won’t be the required income until the shares are transferred and dividends are paid. The expected dividend income is around £15-20k per year. I can’t get through to the CC on the phone so have tried emailing them but don’t hold much hope of any assistance!
Catch 22. It is already a charity, it just can’t be registered. The tax benefits should therefore apply but it feels risky. Also note that (i think) the receipt of the shares will be “income” in itself - the term has a wider meaning. You could: