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Finance Act 1975

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Gifts to political parties

11(1)Subject to the provisions of Part II of this Schedule, transfers of value are exempt to the extent that the values transferred by them—

(a)are attributable to property which becomes the property of a political party qualifying for exemption under this paragraph ; and

(b)so far as made on or within one year of the death of the transferor, do not exceed £100,000.

(2)A political party qualifies for exemption under this paragraph if, at the last general election preceding the transfer of value.—

(a)two members of that party were elected to the House of Commons ; or

(b)one member of that party was elected to the House of Commons and not less than one hundred and fifty thousand votes were given to candidates who were members of that party.

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