Property & Shares

Gift of Shares

Are you one of the many people who have shares that make little difference to your income? Perhaps they create more paperwork than they do income? Perhaps you are a higher rate taxpayer and are reluctant to sell them as you would lose too much in capital gains tax? It is now really easy to support RMBI by giving shares and so rewarding with current tax benefits.

Share Gift is a simple and tax-effective way of disposing of shares that may no longer be part of an investment strategy. For higher rate tax payers there is a double tax benefit, gifts of shares are exempt from capital gains tax and income tax relief. It is also really simple to do…

• Simply transfer the shares to RMBI. This can be done by contacting ShareGift* (the national charity share donation scheme) or the company’s registrar (details of which can be found on your share certificate) or your broker, who will provide a stock transfer form for you to complete.

• Keep all copies of your stock transfer forms, as this is evidence to Inland Revenue of the date of the gift.

• Claim the appropriate tax relief. You can set the value of your gift against your income tax liability in the year you make the gift.

For example, if you were a basic rate tax payer and donated shares worth £500 to RMBI, you would receive an income tax rebate of £110 (22% of £500). If you were a higher rate tax payer and gave a £10,000 share gift to RMBI, you would get an income tax rebate of £4,000 (40% of £10,000) at the end of the year and would also not be liable for any capital gains tax which otherwise would have been payable if your shares were sold.

* ShareGift is the national organisation that specialises in accepting small numbers of shares or of a low value. Your shares will be added to shares given by other people donating to the RMBI.

Please contact Duncan Washbrook, Fundraising Co-ordinator, for more information.

Gifts of Property & Land

Before making either of these gifts, please contact us to ensure we can accept it. Once we have confirmed we can accept the gift, the property or land can be transferred. Contact Chris Head if you are thinking of making such a donation for an initial, confidential discussion.

To claim the relief you will need to obtain a certificate from us and it will contain the following:

• A description of the qualifying interest in land which is the subject of the disposal

• The date of the disposal

• A statement that the charity has acquired the qualifying interest in land