Income Tax Act 2007 section 445

Prohibition against double relief

Section 445 prevents taxpayers from claiming more than one form of tax relief on the same disposal of an asset to a charity or similar body.

• Where a claim for relief is made under this Chapter in respect of a disposal, no other income tax relief can be claimed on the same disposal
• The trading stock gift relief under section 108 of ITTOIA 2005 is specifically disapplied when a claim is made under this Chapter
• No relief under any other provision of the Income Tax Acts is allowable in respect of the same disposal
• Separate rules in section 257(2A) to (2C) of TCGA 1992 deal with the capital gains tax and corporation tax consequences where an individual is entitled to relief under this Chapter