Share Giving
Have
you considered making a donation of shares to The Christie?
There are generous tax incentives if you, or your company, give shares
to Christie's. You can benefit by claiming income tax (or corporation
tax) relief on the value of most shares, securities and other investments.
Another advantage is that gifts of shares to a charity are exempt
from capital gains tax.
Do you have any windfall share certificates gathering dust in
a drawer?
Why?
- You benefit from the tax incentives and Christie's benefits
from the shares.
- You can offset the full value of the gifts of shares against
your income tax liability for the year. For example if you give
a charity £1,000 worth of shares and you are a higher rate
taxpayer, you will pay £400 less income tax that year.
- Additionally, you will not have to pay any capital gains tax
on any increase in the value of the shares since you bought them.
- If you have 'windfall' shares that are effectively gathering
dust, making little difference to you they could be put to really
good use if given to Christie's.
- If you hold a small number of shares they could be generating
more paperwork than income.
How
It's a very simple process:-
- Find the share certificate or dividend voucher and look for
the address of the Registrar of the Company.
- Contact the registrar and ask for a Share Transfer Form.
- Sign the form - putting the shares in the name of The Christie.
- Keep evidence of the gift and the date it was made.
- Claim the appropriate tax relief
What will we do with the shares?
We may either sell the shares or keep them as an investment
Further sources of information
To find out more about giving shares or other tax efficient ways
of donating look at www.allaboutgiving.org
The Inland Revenue booklet 'Giving shares and securities to charity'
IR178 provides more details on how the tax relief works and gives
some useful examples, it and can be viewed here
If you are uncertain about the best way to give you should seek
professional advice from an accountant, a financial advisor or a
solicitor.