Finance Act 1996

2 (1) Section 84 of the Taxes Act 1988 (relief for gifts to educational establishments) shall be amended in accordance with the following provisions of this paragraph.

(2) In subsection (3), in the words following paragraph (b) (relief not available unless donor makes claim within two years of making the gift) for “two years of making the gift” there shall be substituted “the period specified in subsection (3A) below”.

(3) After that subsection there shall be inserted—

“(3A) The period mentioned in subsection (3) above is—

(a) in the case of a claim with respect to income tax, the period ending with the first anniversary of the 31st January next following the year of assessment in whose basis period the gift is made;

(b) in the case of a claim with respect to corporation tax, the period of two years beginning at the end of the accounting period in which the gift is made.

(3B) In paragraph (a) of subsection (3A) above “basis period” means—

(a) in relation to a year of assessment for which a basis period is given by sections 60 to 63, that basis period,

(b) in relation to a year of assessment for which no basis period is given by those sections, the year of assessment.”