Finance Bill — Clause 11 — Gift Aid eligibility of museum charges — 13 Jun 2005 at 17:15

Those voting Aye wished to weaken Clause 11 of the Finance Bill, which amended the Finance Act 1990 relating to the fact that museums who were registered as charities were able to reclaim tax back on their admission charges. Usually these tax concessions, known as Gift Aid, apply to charitable donations, and the Treasury considered saw the ability to apply it to entrance fees as a loophole, which this Clause was intended to close.

Inserted section 5H of Clause 11 says, in essence:

Gift Aid is only applicable on an admission tickets (a) that lasts at least one year, or (b) that cost 10% above the standard rate.

Those voting Aye wanted to lower the proposed limit on which ticket would qualify for text relief, from one year to three months.

Debate in Parliament | Source |