Donating through share giving
Since April 2000 individuals have been able to get income tax relief on gifts to charities of a wide range of listed shares, unit trusts and investment trusts. You can get this tax relief in addition to the capital gains tax relief on gifts of assets to charity.
A gift of shares worth £1,000 could reduce a basic rate donor’s income tax bill by £220, or by £400 for higher rate tax payers.
Companies can also get relief on corporation tax for gifts to charity of the same type of investments. Relief for companies is in addition to relief for corporation tax on capital gains on gifts to charity of shares, securities and other assets.
Many of us have got small dribs and drabs of shares – maybe acquired as part of a privatisation – and the small quantity can make them uneconomic to sell. Winston's Wish has linked in with ShareGift, a charity which collects the shares, sells them on our behalf then sends the money back to us.
If you would like to know more, please contact the Finance team at Winston's Wish on 01242 515157.
‘I never thought about donating shares, but when the charity suggested it, it made sense. The income tax relief was a real bonus.’