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Charities
Gift Aid – Transitional Relief
As a result of the reduction in the basic rate of income tax from 22% to 20%, many UK Charities and Community Amateur Sports Clubs would suffer a reduction in the tax repayment they can claim on donations made to them under the gift aid scheme.
To compensate for this, a transitional relief has been introduced whereby HMRC will pay a 2% supplement to the charity or sports club in respect of gift aid donations they receive in the years 2008/09, 2009/10 and 2010/11.