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’ ????