Budget 2008

Gifts to Charities - Budget 2008 - GT

Gifts to Charities

Gift aid*

  • Tax relief on cash gift against income or capital gains.
  • Relief carry back to previous tax year.

Gift of assets

  • Relief for full value of gift of:
    • shares/securities listed on a recognised stock exchange including AIM
    • units in authorised unit trusts
    • shares in open ended investment companies
    • an interest in certain off-shore funds
    • UK freehold or leasehold property which the charity agrees to accept.
  • Relief given against income or profits of donor.
  • No capital gains tax on disposal of asset gifted.

Payroll giving

  • Tax relief through the payroll on full gift butNational Insurance Contributions (NIC) still apply.

Tax repayments

  • Nominated charity can receive all or part of a tax repayment.

* Also available on gifts to exempt bodies including certain amateur sports clubs.

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