26Donations to charity: minimum limits
(1)In section 339 of the Taxes Act 1988 (charges on income: donations to charity) in subsection (3A) (payment by close company not a qualifying donation if less than £600 after deducting income tax) for “£600” there shall be substituted “£400”.
(2)In section 25 of the [1990 c. 29.] Finance Act 1990 (donations to charity by individuals) in subsection (2)(g) (gift must be not less than £600 to be a qualifying donation) for “£600” there shall be substituted “£400”.
(3)Subsection (1) above shall apply in relation to payments made on or after 7th May 1992.
(4)Subsection (2) above shall apply in relation to gifts made on or after 7th May 1992.