Political Parties and Elections Bill

Amendment 64 64: After Schedule 4, insert the following new Schedule— "SCHEDULE Tax relief on donations 1 To obtain tax relief under section (Tax relief on donations), the conditions set out in paragraph 2 must be satisfied. 2 (1) The individual who made the donation is a permissible donor. (2) The registered political party to which the donation is made is a party which, at the last general election preceding the donation, had at least two members elected to the House of Commons. (3) Conditions A to F in section 416 of the Income Tax Act 2007 (c. 3) (meaning of "qualifying donation") would have been met if the donations had been made to a charity. (4) The donor has given a declaration in the manner specified by regulations made by the Commissioners for Her Majesty’s Revenue and Customs and containing any information and any statements required by regulations. 3 Regulations made under paragraph 2(4) may provide for declarations— (a) to have effect; (b) to cease to have effect; (c) to be treated as never having had effect, in any circumstances and for any purposes specified by the regulations. 4 Regulations made under paragraph 2(4) are subject to annulment pursuant to a resolution of the House of Commons. 5 Tax relief in relation to donations given by an individual in any fiscal year may be given only on whichever is the lesser of— (a) the amount of donations given by the individual in that year to which section (Tax relief on donations) applies; (b) £500. 6 Tax relief shall not be given on higher rate income tax. 7 The amount of tax relief (subject to paragraphs 5 and 6) shall be computed and allocated to the political party to which the donation was given as if that party was a charity to which Chapter 2 of Part 8 of the Income Tax Act 2007 applies."