Capital Transfer Tax

HC Deb 30 January 1978 vol 943 cc23-4W

Mr. Faulds

asked the Chancellor of the Exchequer whether he will consider introducing tax relief on money contributed to public appeals towards the saving for the national heritage of objects or buildings accepted as such by the Treasury's expert advisers and destined for national purposes.

Mr. Robert Sheldon

I take it my hon. Friend is referring to public appeals organised by national and local authority galleries and similar institutions. There is already exemption from CTT for gifts to these bodies—Schedule 6, Para graph 12, FA 1975. Donations to public appeals by these bodies would be covered by this exemption. I do not contemplate the introduction of other tax reliefs.

Mr. Cormack

asked the Chancellor of the Exchequer what was the total yield of capital transfer tax on gifts inter vivos during 1976–77.

Mr. Robert Sheldon

I will let the hon. Member have a reply as soon as possible.