Did you know that Share Giving is an extremely tax-effective way to donate?
Perhaps you have received “windfall shares” from a building society? Or you might have some shares which are now uneconomic to sell?
If you donated them to BDF Newlife, those shares could be doing something really positive. And what’s more, it could be financially advantageous to you!
If you donate shares, in most cases you can get relief against your personal income tax. This is in addition to exemption to any CGT (Capital Gains Tax) on gains you may have made on those shares.
How does it work? For example, if you donated 950 shares quoted on the London Stock Exchange at £1 each on the day you gifted them, and your broker’s fees were £50, you could have £1,000 deducted against your taxable income on your tax return. If you pay tax at 40% your income tax bill would be reduced by £420. In effect, to donate £1000 has actually cost you £580 (£1000 - £420).
To discuss Share Giving, or to find out more please contact our Supporter Relations Department on 01543 468888 or email us.
(Please note: for any queries regarding Capital Gains Tax we strongly suggest you seek advice from your accountant or financial advisor, or see Inland Revenue leaflet CGT1 “Capital Gains Tax: An Introduction”.)
