Clause 96 - Gifts of real property to charity

Part of Finance Bill – in a Public Bill Committee at 4:00 pm on 13th June 2002.

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Photo of John Healey John Healey The Economic Secretary to the Treasury 4:00 pm, 13th June 2002

I beg to move amendment No. 198, in page 72, line 23, at end insert—

'This subsection is subject to subsections (9AA) to (9B) below.

(9AA) Where a person makes a disposal to a charity of—

(a) the whole of his beneficial interest in such freehold or leasehold interest in land as is described in subsection (9A)(a) or (b) above, and

(b) any easement, servitude, right or privilege so far as benefiting that land,

the disposal falling within paragraph (b) above is to be regarded for the purposes of this section as a disposal by the person of the whole of his beneficial interest in a qualifying interest in land.

(9AB) Where a person, who has a freehold or leasehold interest in land in the United Kingdom, grants a lease for a term of years absolute (or, in the case of land in Scotland, grants a lease) to a charity of the whole or part of that land, the grant of that lease is to be regarded for the purposes of this section as a disposal by the person of the whole of the beneficial interest in the leasehold interest so granted.'.