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Changes over time for: Cross Heading: Gifts qualifying for gift aid relief


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 17/07/2014
Status:
Point in time view as at 31/01/2013.
Changes to legislation:
Corporation Tax Act 2010, Cross Heading: Gifts qualifying for gift aid relief is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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[Gifts qualifying for gift aid reliefU.K.
661DTax treatment of gifts qualifying for gift aid reliefU.K.
(1)This section applies if a gift is made to a registered club by an individual and the gift is a qualifying donation for the purposes of Chapter 2 of Part 8 of ITA 2007 (gift aid).
(2)The club is treated as receiving, under deduction of income tax at the basic rate for the tax year in which the gift is made, a gift of an amount equal to the grossed up amount of the gift.
(3)The income tax treated as deducted is treated as income tax paid by the club.
(4)The grossed up amount of the gift is treated as an amount in respect of which the club is chargeable to corporation tax, under the charge to corporation tax on income.
But this is subject to section 664 (exemption for interest and gift aid income).
(5)References in this section to the grossed up amount of the gift are to the amount of the gift grossed up by reference to the basic rate for the tax year in which the gift is made.]
Yn ôl i’r brig