§ Mrs. Anne CampbellTo ask the Chancellor of the Exchequer what plans he has to make voluntary contributions to capital projects tax deductible. [21879]
§ Mr. JackVoluntary contributions to capital projects will commonly be tax deductible under the present system. For instance, a person who, for the purposes of his or his tenant's trade, contributes towards another's capital expenditure can generally claim capital allowances on that contribution. And businesses can have a deduction in calculating business profits for tax purposes for 3W contributions to a capital project if the expenditure is revenue in nature and incurred wholly and exclusively for business purposes.