Section 41 | Gift aid: increase of limits on total value of benefits associated with gifts

(1)In section 418 of ITA 2007 (gifts to charities by individuals: restrictions on associated benefits), in subsection (3), for “£500” substitute “ £2,500 ”.

(2)In section 197 of CTA 2010 (gifts to charities by companies: restrictions on associated benefits), in subsection (3), for “£500” substitute “ £2,500 ”.

(3)Accordingly, omit section 60(1)(b) of FA 2007.

(4)The amendments made by subsections (1) and (3) have effect in relation to gifts made on or after 6 April 2011.

(5)The amendment made by subsection (2) has effect in relation to gifts made in an accounting period ending on or after 1 April 2011.