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Clause 49 - Gifts to the nation

Part of Finance Bill – in a Public Bill Committee at 3:15 pm on 14th June 2012.

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Photo of Ian Swales Ian Swales Liberal Democrat, Redcar 3:15 pm, 14th June 2012

The hon. Lady’s point was a helpful addition. There is the well documented case of Andrew Lloyd Webber who had charitable relief on paintings that were then leased back to his own premises at very low cost. They may ultimately end up with the nation but they are currently used by him, even though he has received large tax relief. That is the kind of scheme we would like to see avoided.