For those subject to IHT on donations to a referendum campaign (causing some MPs to propose a retrospective extension to s24), do sections 10 and 268 IHTA offer any hope of arguing that the gifts were exempt?
Unlike a gift to a politcal party (which might be spent on a lease for a new HQ), haven’t the donors indirectly spent their own spare cash on campaign posters and adverts etc?
Even if their donation was by a close company, it looks like s10 (unlike some exemptions) can still apply with s94.
Lee Blackshaw
Blackshaw Tax Ltd