SCHEDULES
SCHEDULE 2Transitionals and savings
Part 9Other reliefs
Gift aid: election to carry back relief
100
1
This paragraph applies if in the tax year 2007-08 an individual makes a gift to a charity that is a qualifying donation for the purposes of Chapter 2 of Part 8.
2
Section 426 has effect with the substitution for subsections (2) and (3) of—
2
The condition is that in year P the grossed up amount of the gift would, if made in year P, be payable out of profits or gains brought into charge to income tax or capital gains tax.
3
If an election is made, section 25(6) to (9A) of FA 1990 have effect in relation to the individual as if the gift were a qualifying donation (within the meaning of section 25 of FA 1990) made in year P.
3
Section 426 has effect with the omission of subsections (4) and (5).