It was expected that when the income tax rate was to reduce by 2% to 20% on 6 April this year that the tax reclaimed on Gift Aided contributions to charities would correspondingly be reduced. This is not the case. The welcome news for all charities is that they can continue to reclaim 22%. This came out in the 2008 budget: the additional 2% is called transitional relief.
It’s Old-man Christmas.
2 days ago