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 welcome the fact that the hon. Gentleman has raised the Law Society's technical concerns about the provision. We always take seriously the points that it makes on legislation. The difficulties that the hon. Gentleman has mentioned are to do with clawback provisions. The recapture provisions are clear. Donors would go into any transaction with their eyes open. The provision is there to prevent avoidance. The clawback is time-limited to six years. The donor has the option to delay innocent transactions. In addition, a subjective decision of what was innocent would be difficult to make.