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Capital Transfer Tax

Volume 887: debated on Thursday 6 March 1975

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asked the Chancellor of the Exchequer whether it is his intention that gifts to a political party will give rise to a liability to capital transfer tax if given by (a) an individual, (b) a close company, (c) a public company, and (d) a trade union.

No—save to the extent that bequests on death and gifts in the last year of life exceed £100,000 and are made directly by an individual or indirectly by him through a close company.

asked the Chancellor of the Exchequer if he will list the employers' federations which have formally requested a meeting with him in regard to the proposed capital transfer tax; and what replies he has sent.

My right hon. Friend has recently received requests for meeting about the capital transfer tax from the Confederation of British Industry and the National Federation of Building Trades Employers. He has met representatives from the CBI and will be replying to the request from the national federation in the near future.