HC Deb 16 January 1984 vol 52 c22W
Mr. Austin Mitchell

asked the Chancellor of the Exchequer what steps are taken by the Inland Revenue to recover income tax at the standard rate on that part of the equity of public limited companies which is distributed by such companies to political organisations on behalf of their equity shareholders.

Mr. Moore

Contributions to political organisations are paid out of after tax profits and are not tax deductible. Nor are they distributions for the purposes of corporation tax. As such the company does not pay advance corporation tax and there is no tax credit for the recipient.