In the recent Spring statement, the Chancellor signposted a reduction in the basic rate of income tax to 19% from April 2024.
To mitigate the reduction in Gift Aid income that would result, the government has now said that there will be a 3-year transition period for Gift Aid, meaning that basic rate relief will be kept at 20% until April 2027.
With the focus on Gift Aid at the moment, do make sure you are making the most of it. You can read our recent blog article at https://zorva.info/2022/04/01/get-the-most-from-your-gift-aid/