Finance Act 1999

57 Aggregation of money gifts for relief in poor countries

(1) Section 48 of the [1998 c. 36.] Finance Act 1998 (gifts of money made for relief in poor countries) shall have effect, and be deemed always to have had effect, with the following amendments.

(2) In subsection (4) (aggregated small gifts to be treated as a single payment made at the time of the last of them), after “that section” there shall be inserted “(but subject to subsection (4A) below)”.

(3) After that subsection there shall be inserted the following subsection—

“(4A) Subsection (10) of section 25 of the [1990 c. 29.] Finance Act 1990 (receipts of gifts by a charity to be treated as payments of grossed-up amounts after deduction of basic rate income tax) shall have effect where—

(a) any aggregated gifts are treated under this section as a single qualifying donation made to a charity, and

(b) the aggregated gifts include gifts made in different years of assessment,

as if that single qualifying donation had been received by the charity in the year of assessment in which the first of the aggregated gifts was made and as if that were the relevant year of assessment for the purposes of that subsection.”