Commentary

D1.213 Local constituency associations

Corporate tax
Corporate tax | Commentary

D1.213 Local constituency associations

Corporate tax | Commentary

D1.213 Local constituency associations

Provision is made to exempt from tax on capital gains any transfers of land by the constituency association of a political party which result from a reorganisation of local constituency boundaries1.

For the purposes of the exemption, a local constituency association is any unincorporated body, however described, whose primary purpose is to further the aims of a political party in an area substantially the same as the area of one or more Parliamentary constituencies. Because a local constituency association is thus expressly defined as being an unincorporated association, the exemption does not apply to disposals by companies

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial