Clause 96 - Gifts of real property to charity

Part of Finance Bill – in a Public Bill Committee at 3:00 pm on 13th June 2002.

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Photo of Joe Benton Joe Benton Labour, Bootle 3:00 pm, 13th June 2002

With this it will be convenient to take the following amendments: No. 208, in page 72, line 18, leave out 'land' and insert 'property'.

No. 91, in page 72, line 18, at end insert

'; and

(f) a qualifying work of art'.

No. 209, in page 72, line 23, at end insert—

'(9AA) In this section a ''qualifying interest in property'' means—

(a) a qualifying interest in land, or

(b) tangible moveable property.'.

No. 92, in page 72, line 32, at end insert—

'(9D) In this section ''qualifying work of art'' shall mean any object or group of objects designated by the Secretary of State, either specifically or as a class, and the provisions of section 31(1)(a), (aa), and (e) of the Inheritance Tax Act 1984 shall apply for the purposes of determining the category or class of object to be so specified as they apply for the purposes of that Act.'.

No. 210, in page 72, line 36, leave out 'real' and insert 'other'.

No. 207, in page 74, line 8, leave out 'land' and insert 'property'.