TaxPersonal TaxCharities push ‘share aware’ campaign

Charities push 'share aware' campaign

The Community Foundation Network charity group is publishing a 'share aware' leaflet explaining the tax benefits of donating shares to charity organisations in an effort to stop the drop in corporate donations.

Donation levels have fallen in real terms for the first time since 1981, despite rising household incomes, and the availability of tax-efficient options for donating introduced by Gordon Brown in last year’s Budget, the Financial Times article.

At the time, the chancellor said he believed the changes could yield an extra Pound 1bn for charities by 2002.

The ‘share aware’ leaflet is aimed at informing companies who are unaware, or have been slow to react to the changes in the tax laws

Donors of shares and other qualifying investments are eligible for high-rate income or corporation tax relief, and charities can realise the full value of the asset because they do not have to pay capital gains tax.

The Inland Revenue has a leaflet setting out the new changes. Click here to read it.

Links

A new age of British philanthropy dawns

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