§ Mr. Hannam
asked the Chancellor of the Exchequer if he will extend the list of national institutions entitled to receive gifts or legacies of works of art under exemption from capital transfer tax to all arts or educational bodies registered with charitable objects.758W
§ Mr. Denzil Davies,
pursuant to his reply [Official Report, 17th February 1976; Vol. 905, c. 609], gave the following information:
I do not think that this would be justified. Very substantial relief for capital transfer tax is already given for gifts and bequests of any property to registered charities, including the unlimited exemption of any gifts made more than a year before the donor's death.