members club becoming SCIO and CGT

[simplytax]

If a members club owning its own building becomes a Scottish Charitable Incorporated Organisation ( SCIO) or CIO in England is there a taxable gain on the property transferred?

Members club is an unincorporated association but is subject to corporation tax as it is within the definition of a "company" at s288 TCGA. The beneficial ownership of the property under the club constitution belongs the members equally. There is a no gain no loss treatment for gifts to a charity at s257 TCGA 1992 but does that apply here if not an individual and the club is subject to corporation tax on any gains?

[pawncob]

The disposal is probably taxable, but as it's a mutual, the gain should be apportioned between all the members, so a taxable gain probably wouldn't arise. It may even be possible to claim relief for the gift to a charity!!
(I couldn't find anything helpful on HMRC sites, so this is pretty much off the wall)