Related Commentary  Related CasesRelated HMRC Manuals

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.

(b)[Repealed by FA 1988, s. 137 and Sch. 14, Pt. X.]

24(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

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