ihta84/s24.- Gifts to political parties.

[1975 Sch.6
para.11(1).]

24.-(1) Transfers of value are exempt to the extent that the values transferred by them-

(a) are attributable to property which becomes the property of a political party qualifying for exemption under this section; and

(b) so far as made on or within one year of the death of the transferor, do not exceed £100,000¹.

[1975 Sch.6
para.11(2).]

(2) A political party qualifies for exemption under this section if, at the last general election preceding the transfer of value-

(a) two members of that party were elected to the House of Commons, or

(b) one member of that party was elected to the House of Commons and not less than 150,000 votes were given to candidates who were members of that party.

[1975 Sch.6
para.15(1), (2), (3), (4);
1976 s.95(2).]

(3) Subsection (2) to (5) of section 23 above shall apply in relation to subsection (1) above as they apply in relation to subsection (1) above as they apply in relation to section 23(1).

[1975 Sch.6
para.15(5).]

(4) For the purposes of section 23(2) to (5) as they apply by virtue of subsection (3) above property is given to any person or body if it becomes the property of or is held on trust for that person or body, and "donor" shall be construed accordingly.

1 Repealed by 1988 s.137 and Sch.14, Part X in relation to transfers of value made on or after 15 March 1988.