A cross-party group of MPs has tabled a new clause for report stage of the Finance Bill, which would extend the IHT exemption for gifts to political parties to similar gifts made to referendum campaigns.
The members’ explanatory statement for the new clause reads as follows:
‘This new clause extends the exemption from inheritance tax for gifts to political parties to gifts to referendum campaigns operating under the framework of the Political Parties, Elections and Referendums Act 2000 (including the AV referendum) or the provisions of that referendum as modified (including for the Scottish independence referendum and for the EU referendum).’
A cross-party group of MPs has tabled a new clause for report stage of the Finance Bill, which would extend the IHT exemption for gifts to political parties to similar gifts made to referendum campaigns.
The members’ explanatory statement for the new clause reads as follows:
‘This new clause extends the exemption from inheritance tax for gifts to political parties to gifts to referendum campaigns operating under the framework of the Political Parties, Elections and Referendums Act 2000 (including the AV referendum) or the provisions of that referendum as modified (including for the Scottish independence referendum and for the EU referendum).’
