HC Deb 17 July 1986 vol 101 c1267

Amendments made: No. 13, in page 31, line 22, leave out from 'assessment)' to end of line 9 on page 32 and insert—

  1. '(a) at the beginning there shall be inserted the words "Subject to subsection (1B) below"; and
  2. (b) the words "and does not exceed £10,000 in any year of assessment" shall be omitted.

(2) After subsection (1A) of that section there shall be inserted the following subsections— (1B) If at least £1,000 of an individual's income for any year of assessment consists of covenanted payments to charity which, in the hands of the charities receiving them, constitute income for which, by virtue of section 31 of the Finance Act 1986, relief under section 360(1) above is not available, so much of the individual's income as consists of those payments shall not be excluded from the operation of subsection (1) above by virtue of subsection (1A) above. (1C) If, for any chargeable period of a charity,—

  1. (a) the income of the charity includes two or more covenanted payments to charity, and
  2. (b) only a part of the aggregate of those payments constitutes income for which, by virtue of section 31 of the Finance Act 1986, relief under section 360(1) above is not available,
each of the payments which make up the aggregate shall be treated for the purposes of subsection (1B) above as apportioned rateably between the part of the aggregate referred to in paragraph (b) above and the remainder."'

No. 14, in page 32, leave out lines 12 to 15.

No. 15, in page 32, leave out lines 27 and 28.—[Mr. Ian Stewart.]

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