HM Treasury’s United Kingdom Budget 2007

Grant Thornton

Grant Thornton

Gifts To Charities

Gift aid1

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

1Also available on gifts to certain amateur sports clubs

Gift of assets

  • Relief for full value of gift of
    • shares and 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 deduction

  • Tax relief through the payroll on full gift but NIC still applies.

Tax repayments

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

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.

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