Gifts to political parties: introduction
The exemption is subject to the same exclusions and limitations as charity exemption. So the instructions at IHTM11171 onwards apply to the IHTA84/S24 exemption as they do to charity exemption. For the purposes of applying IHTA84/S23 (2) to IHTA84/S23 (5) to the exemption for gifts to political parties, property is given to any person or body if it becomes the property of or is held in trust for that body or person. The word ‘donor’ is construed in the same way.
The guidance at IHTM11012 gives details of the transfers to which the exemption applies.
IHTA84/S24 applies to settled property (IHTM16000) in the same way as charity exemption applies to settled property and is subject to the same exclusions. So the guidance at IHTM11161 onwards applies to gifts to political parties as well as to charities.