HC Deb 18 February 1976 vol 905 c715W
Mr. Hannam

asked the Attorney-General if he will introduce legislation to reduce the minimum period for deeds of covenant in favour of charities from six years to three years; and if he will make a statement on the reasons for the current length of this period.

Mr. Robert Sheldon

I have been asked to reply.

To be accepted as effective for tax purposes, a covenant must be of sufficient duration to stamp the payments under it as a real transfer of income. For this purpose, the six-year requirement has operated since 1922 and I am not aware of any general demand for a change.

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