|  | | | The following text is from the government's Giving Campaign website:
 | Share Giving - What is it? |
Giving shares to charity is not a new idea, but since April 2000, there is a new tax incentive to make Share Giving even more attractive. Individuals who give shares to charity are entitled to claim back full tax relief against the value of those shares. So, a gift of shares worth 1,000 will only cost a higher rate taxpayer 600, or 780 for lower rate taxpayers and furthermore, no capital gains tax will apply.
There are many reasons why giving shares might appeal to you. You might hold windfall shares as a result of a privatisation or demutualisation that are effectively gathering dust, making little difference to you, but they could make a big difference to a charity. Or, you may own small parcels of shares, perhaps as a result of an inheritance that you regard as a bit of a nuisance as they generate more paperwork than income. These could be turned into something of real value to others by donating these shares to charity.
| Share Giving - How does it work? |
Tax relief is available to UK taxpayers donating shares and securities listed on the UK Stock Market, the Alternative Investment Market, and recognised stock exchanges overseas. It is also available for units in a UK unit trust, shares in a UK open-ended investment company (OEIC), and some similar foreign investments.
You can claim tax relief equal to the market value of the shares on the day you make the gift, together with any associated costs such as brokers' fees. Furthermore, capital gains tax (CGT) on any increase in the value of the shares since you bought them, will not apply. However, if your shares have gone down in value, you should be aware that you will not be able to use this loss to offset any other CGT liability you may have.
To find out more about Share Giving to Leukaemia Research, contact fundraising@lrf.org.uk or call 020 7405 0101. |
|
|
|
