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Forums › ACCA Forums › ACCA TX Taxation Forums › f6 ot notes, page 14
The taxpayer can elect to treat gift aid payments made by 31 January to have been made in the previous year, ie a payment made
by 31 January 2016 can be treated as if paid in tax year 2014/15. This would be advantageous if the taxpayer was likely to be a basic
rate taxpayer in 2015/16 but was a higher rate taxpayer in 2014/15.
Shouldn’t it be ‘This would be advantageous if the taxpayer is likely to be a higher
rate taxpayer in 2015/16 but was a basic rate taxpayer in 2014/15’ ????
Please tell…
The note is obviously correct!!
If they were paying higher rate in 2014/15 then they would save tax at higher rates by treating as if it was in 2014/15.