Keep the Gift Aid Tax Break, UK Fundraisers Say
Obama's plan to cut relief for US donors would not work in the UK, experts warn HMRC
The budget proposal, not yet approved by Congress, would affect households earning a combined annual income of $250,000 or more from 2011.
Under the plan, higher-rate taxpayers would no longer be able to claim back 33 or 35 cents per dollar donated as in the current system, depending on the tax bracket they fall into. The amount would instead be capped at 28 cents per dollar.
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