SCHEDULES

SCHEDULE 19Reduction of basic rate of income tax: transitional relief for gift aid charities

2Amount of gift aid supplement

1

The amount of gift aid supplement that a charity is entitled to be paid in respect of a gift aid donation is—

DGN-DGAmath

where—

  • DGN is the amount of the gift aid donation grossed up by reference to the notional basic rate for the transitional tax year, and

  • DGA the amount of the gift aid donation grossed up by reference to the actual basic rate of income tax for the transitional tax year.

2

A charity is not entitled to be paid gift aid supplement in respect of a gift aid donation if the amount determined in accordance with sub-paragraph (1) is a negative amount.