§ Mr. Trotterasked the Chancellor of the Exchequer whether gifts to the Penlee lifeboat disaster fund will not only be free of capital transfer tax liability on the donor but will not count towards the exemption limits in the computation of the donor's liability in respect of unrelated transfers.
§ Mr. Ridley[pursuant to his reply, 9 February 1982, c. 324]: In the first instance gifts to this fund will be taken into account in computing capital transfer tax liabilities in the normal way. As already announced, however, the Government propose to offer an indemnity in the exceptional cases where liability to capital transfer tax—or an increased liability—arises as a result. The indemnity arrangements will ensure that no one will pay more capital transfer tax than if the donation had not been made.