gift aid(redirected from gift-aid)
Also found in: Dictionary, Financial.
gift aida tax relief for cash gifts to UK charities or community amateur sports clubs to whom a declaration that the payment is made under gift aid has been made. The payment is treated as a net amount after deduction of basic rate tax which the payee then recovers from HM REVENUE & CUSTOMS. Unless the payer is liable to higher rate tax, no further tax relief is due.
Collins Dictionary of Law © W.J. Stewart, 2006