Changes to Gift Aid - benefit limits
Following a recent consultation with taxpayers, HMRC has announced changes that will be made to the limits that value benefits given by a charity in return for a donation received. The existing three-tier thresholds will be replaced by two new thresholds operating on a cumulative basis. This will allow charities to offer benefits worth up to 25% on the first £100 of a donation, plus 5% of any additional amount donated, up to a maximum benefit value of £2,500.
Draft legislation has been published for Finance Bill 2019 and the changes will come into effect from 6 April 2019.