[F1521AGifts under payroll deduction schemes: income tax liability and exemptionU.K.
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(1)This section applies if gifts are made to charitable trusts by individuals and the gifts are donations for the purposes of Part 12 of ITEPA 2003 (payroll giving).
(2)Income tax is charged on the gifts under this section.
(3)It is charged on the full amount of the gifts arising in the tax year.
(4)But a gift is not taken into account in calculating total income so far as it is applied to charitable purposes only.
(5)The trustees of the charitable trust are liable for any tax charged under this section.]
Textual Amendments
F1S. 521A inserted (8.4.2010 with effect in accordance with Sch. 8 para. 8(1) of the amending Act) by Finance Act 2010 (c. 13), Sch. 8 para. 1(1)