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Income tax cut to hit Gift Aid levels
By Emma Rigby, Third Sector, 23 January 2008
Charities need to start preparing now for the effect that April's income tax cuts will have on tax-efficient giving, according to the Institute of Fundraising.
On 6 April the basic rate of income tax will fall from 22p in the pound to 20p. Charities can currently reclaim 28p of income tax for every pound donated by taxpayers through the Gift Aid scheme. After 6 April, however, they will be able to reclaim only 25p in...
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