COIF Charities Property Fund - CCLA

Notes to the accounts
30.6.2012
£’000
30.6.2011
£’000
Other expenses:
Insurance fee 1 1
Audit fee 4 4
Investment property database fee 13 5
Property ground rent and empty rates 193 14
Property legal and professional fees 76 80
Property valuation fees 47 60
Property service charge 221 120
Property repairs and maintenance 2 -
Property other expenses 15 6
572 290
Total expenses 1,054 760
The above expenses include VAT where applicable.
* This amount represents the rebate of management fees credited to the Fund’s revenue for
its holding in the COIF Charities Deposit Fund where management fees are charged to
revenue.
5. Taxation
The Fund is exempt from UK income and capital gains tax due to its charitable status pursuant
to Part 11 Chapter 3 of the Corporation Tax Act 2010 and Section 256 of the Taxation of
Chargeable Gains Act 1992. Distributions are paid and reinvested revenue credited gross to
unitholders on the basis that all appropriate UK taxation has been both reclaimed and
recovered.
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