Oral question asked in the House of Lords, by Lord Elton (Conservative). It was answered by Earl of Strathmore and Kinghorne (Conservative) on Thursday, 26 July 1990.

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Oral question

Question

Whether it is intention, as can be inferred from Inland Revenue Statement of Practice No 4/90, to treat charitable covenants containing a clause to protect covenantors from liability to continue covenanted payment if their income falls below a stated level, as falling outside definition of "a covenanted payment to charity," in Section 660 (3) to Taxes Act; & if so, what will be loss of income to charities generally as a result.

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Secondary information

Type

Oral question

Reference

521 c1791-2 

Session

1989-90

Oral question type

Lead

Chamber / Committee

House of Lords chamber

Subjects

Charities Charitable donations Deeds of covenant Liability Income Personal income Tax allowances

Legislation

Income and Corporation Taxes Act 1988

Contains statistics

Yes