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Sport And Recreation (Tax Concessions)

Volume 976: debated on Friday 21 December 1979

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asked the Chancellor of the Exchequer (1) if he proposes to cut corporation tax and value added tax on the cost of equipment and clothing provided for competitors in the Olympic Games, to assist the British Olympic Association in its appeal for £1 million for 1980;(2) if he intends to seek to provide for a special taxation status for non-profit distributing governing bodies of sport and recreation in the United Kingdom such as the Central Council for Physical Recreation and the British Olympic Association.

Such associations are liable to corporation tax in respect of profits, but not in respect of voluntary donations. I have no plans to change this position.I have no plans to extend the range of reliefs from value added tax.