Income Tax Act 2007

Supplementary U.K.

427 Meaning of “charged amount” U.K.

(1) For the purposes of this Chapter, an individual's charged amount is the amount calculated as follows.

(2) Calculate the amount of the individual's modified net income for year X (see section 1025).

(3) Calculate the amount on which the individual is chargeable to capital gains tax for year X.

(4) Add together the amounts calculated under subsections (2) and (3).

The result is the individual's charged amount for year X.

428 Meaning of “gift aid declaration” U.K.

(1) In this Chapter “gift aid declaration” means a declaration which—

(a) is given in the manner specified by regulations made by the Commissioners for Her Majesty's Revenue and Customs, and

(b) contains any information and any statements required by the regulations.

(2) The regulations may provide for declarations—

(a) to have effect,

(b) to cease to have effect, or

(c) to be treated as never having had effect,

in any circumstances and for any purposes specified by the regulations.

[F1 (3) The regulations may also require—

(a) charities, or intermediaries within the meaning of section 416(1A), to keep records with respect to declarations received from individuals or from those intermediaries,

(b) charities or intermediaries to produce, for inspection by an officer of Revenue and Customs, any records required to be kept by those charities or intermediaries by regulations made under paragraph (a), and

(c) intermediaries to provide statements of account, and other specified information relating to declarations made, in such form and at such times as may be specified, to individuals who have authorised those intermediaries to give those declarations to charities on their behalf.

(4) The regulations may also make different provision for different cases or circumstances, including—

(a) different provision for declarations made in a different manner or by different descriptions of persons, and

(b) different provision depending on whether or not an intermediary, within the meaning of section 416(1A), is involved in the giving or receiving of the declaration.]

[F2 (5) The regulations may also make provision—

(a) for the imposition of a penalty of a specified amount (which must not exceed £3000) for a failure to comply with a specified requirement imposed by the regulations,

(b) for the assessment and recovery of the penalty (which may include provision about the reduction of the penalty in specified circumstances), and

(c) conferring a right of appeal against a decision that a penalty is payable.]

Textual Amendments

F1 S. 428(3)(4) substituted for s. 428(3) (with effect in accordance with s. 20(4) of the amending Act) by Finance Act 2015 (c. 11), s. 20(3); S.I. 2016/1010, reg. 2

F2 S. 428(5) inserted (14.11.2016) by Finance Act 2016 (c. 24), s. 173(1)(2); S.I. 2016/1010, reg. 3

F3 429 Giving through self-assessment return U.K.

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Textual Amendments

F3 S. 429 repealed (retrospective to 6.4.2012) by Finance Act 2012 (c. 14), s. 50(1)(4)

430 “Charity” to include exempt bodies U.K.

(1) In this Chapter “charity” includes—

(a) the Trustees of the National Heritage Memorial Fund, [F4 and]

(b) the Historic Buildings and Monuments Commission for England,

F5 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d) a club that is registered as a community amateur sports club for the purposes of [F6 Chapter 9 of Part 13 of CTA 2010].

(2) For the purposes of the application of section 414(1) in relation to clubs that are charities as a result of subsection (1)(d) of this section, membership fees are not gifts.

Textual Amendments

F4 Word in s. 430(1) inserted (1.4.2012) by The Public Bodies (Abolition of the National Endowment for Science, Technology and the Arts) Order 2012 (S.I. 2012/964), arts. 1(2), 3(1), Sch.

F5 Word and S. 430(1)(c) omitted (1.4.2012) by virtue of The Public Bodies (Abolition of the National Endowment for Science, Technology and the Arts) Order 2012 (S.I. 2012/964), arts. 1(2), 3(1), Sch.

F6 Words in s. 430(1)(d) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 526 (with Sch. 2)