Commentary

I4.216 Gifts to political parties

IHT, trusts and estates

I4.216 Gifts to political parties

I4.216 Gifts to political parties

Transfers of value are exempt transfers to the extent that the values transferred by them are attributable to property which becomes the property of a qualifying political party1. A political party qualifies for exemption if, at the last general election, two members of that party were elected to the House of Commons or one member was elected and candidates of that party polled not less than 150,000 votes (including votes cast for the one elected member)2. By-elections are ignored.

However, the First Tier Tax Tribunal case of Banks v HMRC3 has cast doubt on the compatibility of IHTA 1984, s 24 with the European Convention on Human Rights (ECHR).

Mr Banks had made several substantial contributions to the political party UKIP over the course of 2014 and 2015

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