HC Deb 12 February 1976 vol 905 cc308-9W
Mr. Hannam

asked the Chancellor of the Exchequer what is the estimated cost at 1974–75 levels of exempting trading receipts of charity from tax, provided that those receipts were applied for the purpose of the charity.

Mr. Denzil Davies

I regret that the information on which to base an estimate is not available.

Mr. Hannam

asked the Chancellor of the Exchequer (1) what is the estimated cost of exempting charities from ad valorem stamp duty on all transactions for the purpose of the charity;

(2) what is the estimated cost of exempting companies incorporated for charitable purposes from companies capital duty.

Mr. Denzil Davies

I regret the information necessary to cost the proposals is not available.

Mr. Hannam

asked the Chancellor of the Exchequer what is the estimated cost of exempting charities from VAT on trading activities not exceeding a turnover of £50,000 per annum.

Mr. Robert Sheldon

This estimate cannot easily be made. The best estimate of the cost of exempting charities from VAT is about £1 million a year.