Clause 67 - Expenditure involving crime
Finance Bill
6:00 pm
Ms Ruth Kelly (Financial Secretary, HM Treasury; Bolton West, Labour)
I am sure that all Committee members subscribe to the view that we should have the greatest integrity in our tax affairs. Of course, we continually update our tax policy to reflect those principles and we keep such matters under review. However, the hon. Member for Arundel and South Downs specifically asked about political donations. For the record, the general expenses rule is that only expenses incurred wholly or exclusively for business purposes are deductible when computing business profits. Donations to political parties would not satisfy that test and would not, therefore, qualify for relief. I hope that the whole Committee will support the clause as it stands.
Question put and agreed to.
Clause 67 ordered to stand part of the Bill.