SCHEDULES
SCHEDULE 7 Control of donations to individuals and members associations
Part I Introductory
Value of donations
I1C1C2C35
1
The value of any donation falling within paragraph 2(1)(a) (other than money) shall be taken to be the market value of the property in question.
2
Where, however, paragraph 2(1)(a) applies by virtue of paragraph 2(2) the value of the donation shall be taken to be the difference between—
a
the value of the money, or the market value of the property, in question, and
b
the total value in monetary terms of the consideration provided by or on behalf of the donee.
3
The value of any donation falling within paragraph 2(1)(b) shall be taken to be the value of the money, or (as the case may be) the market value of the property, transferred as mentioned in paragraph 3(1); and accordingly any value in monetary terms of any benefit conferred on the person providing the sponsorship in question shall be disregarded.
4
The value of any donation falling within paragraph F12(1)(e) shall be taken to be the amount representing the difference between—
a
the total value in monetary terms of the consideration that would have had to be provided by or on behalf of the donee in respect of F2. . . the provision of the property, services or facilities if—
i
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ii
the property, services or facilities had been provided,
on commercial terms, and
b
the total value in monetary terms of the consideration (if any) actually so provided by or on behalf of the donee
5
Where a donation such as is mentioned in sub-paragraph (4) confers an enduring benefit on the donee over a particular period, the value of the donation—
a
shall be determined at the time when it is made, but
b
shall be so determined by reference to the total benefit accruing to the donee over that period.