You can make a gift to Abbeyfield by donating your shares. Doing so means that you're able to claim tax relief equal to the market value of the shares on the day you make your gift. The relief is against your income tax for the year. For example, a higher-rate taxpayer donating £1,000 of shares is entitled to £400 relief on their income tax for that year. The larger your donation, the larger the amount of tax relief you receive. Also, you won't have to pay capital gains tax (CGT) on any increase in the value of your shares since you bought them. However, if your shares have decreased in value you won't be able to use this loss to offset any other CGT you might have.
Donating your shares is also an extremely cost effective way of disposing of small amounts of shares where the cost of selling them matches or exceeds their value.
If you'd like to donate shares to Abbeyfield, you can do so via ShareGift, the charity donation scheme. Click here to download the ShareGift coupon. Simply print this coupon and send it to Abbeyfield, along with your share certificates.
For further information, you can contact ShareGift on tel: 0207 337 0501, or visit www.sharegift.org. You can also find out more about the benefits of share donation by visiting HM Revenue & Customs' website: www.hmrc.gov.uk
About ShareGift
The Orr Mackintosh Foundation runs ShareGift. It specialises in collecting donated shares together, selling them and making donations from the proceeds to charities requested by the share donors. There is no charge for using ShareGift.