HC Deb 30 April 1975 vol 891 c166W
Mr. Corbett

asked the Chancellor of the Exchequer if he will take steps to ensure that profits of university colleges realised through the sale of property and land are subject to capital gains tax.

Dr. Gilbert

University colleges, in common with other charitable bodies, are in general exempted by the Taxes Acts from capital gains tax, provided that the gains concerned are applied for charitable purposes only. My right hon. Friend has no plans to withdraw that exemption.

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