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Charities' Investment Income

Volume 300: debated on Friday 7 November 1997

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To ask the Chancellor of the Exchequer what assessment the Government have made of the impact on charities' investment income of the changes in advance corporation tax announced in the last Budget. [14296]

The abolition of payment of tax credits on the dividends of UK companies will not affect charities until April 1999. Beyond that, charities will benefit from a five year scheme of special payments to ease the transition to the new treatment of dividends.