Section 424 | Charge to tax

(1)Income tax is charged under this section if—

(a)an individual makes one or more gifts to charity in a tax year which are qualifying donations, and

(b)amount A is greater than amount C.

(2)In this section—^F1F2F3

“amount A” means the total amount of the tax treated as deducted from the gifts under section 414, and

“amount C” means the sum of—

(a)the amount of income tax to which the individual is charged for the tax year, and

(b)the amount of capital gains tax to which the individual would be chargeable for the tax year if the following were ignored—

(i) any relief under sections 2 and 6 of TIOPA 2010

(ii) any relief under section 18(1)(b) and (2) of TIOPA 2010 (relief for foreign tax where no double taxation arrangements).

(3)For the purposes of this section, the total amount of income tax to which the individual is charged for the tax year is the amount calculated in accordance with section 425, after taking into account any restriction of relief under section 423.

(4)The amount of the tax charged under this section is equal to the difference between amount A and amount C.

(5)Tax charged under this section is charged for the tax year in which the gift or gifts are made.

(6)The person liable for any tax charged under this section is the individual.