Part 8Other reliefs
Chapter 2Gift aid
Election to carry back relief
426Election by donor: gift treated as made in previous tax year
1
If—
a
an individual makes a gift to a charity that is a qualifying donation, and
b
the condition in subsection (2) is met,
the individual may elect to be treated as if the gift had been made in the previous tax year (“year P”).
2
The condition is that the individual's charged amount for year P (see section 427) is at least equal to the increased total of gifts.
3
If an election is made, sections 414 and 423 to 425 have effect in relation to the individual as if the gift were a qualifying donation made by the individual in year P.
4
The increased total of gifts is the sum of—
a
the grossed up amount of the gift, and of any gifts that are the subject of the same election or an election made at the same time,
b
the sum of the grossed up amounts of any gifts to charities made by the individual in year P which—
i
are qualifying donations, and
ii
are not themselves treated as made in the tax year before year P because of an election under this section, and
c
the sum of the grossed up amounts of any gifts which, as a result of an earlier election under this section, are treated as made in year P.
5
The grossed up amount of the gifts mentioned in paragraphs (a) and (c) of subsection (4) is to be determined as if the gifts were made in year P.
6
An election must be made—
a
on or before the date on which the individual delivers a return for year P under section 8 of TMA 1970 (personal return), and
b
not later than the normal self-assessment filing date for year P.
7
An election does not affect the position of the recipient of the gift (see section 520 (gifts to charitable trusts: income tax treated as paid) and F1and sections 471 and 475 of CTA 2010 (charitable companies and eligible bodies: income tax treated as paid etc)).
F28
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