Emmanuel College is pleased to accept gifts of shares. The College has a nominee account with Charles Stanley and will put the donor in touch with its representative there (so long as the donor is happy for his or her contact details to be passed on), who will then guide the donor through the process. The Development Office is happy to advise.
Donations of shares can entitle the donor to tax relief as listed below:
If individuals or companies give any of the following to the College, they can claim tax relief against their income or profits:
- shares and securities listed or dealt on a recognised stock exchange, whether in the UK or elsewhere, including shares traded on the Alternative Investment Market;
- units in an authorised unit trust;
- shares in a UK open-ended investment company;
- holdings in certain foreign collective investment schemes
Advice on whether shares or securities qualify for the scheme is obtainable from the HM Revenue and Customs Charities tel. 0845 3020203.
- The whole of the beneficial interest has to be transferred to the College, either by gift or by sale at undervalue.
- Tax relief can be claimed for the market value of the shares or securities at the date of disposal and for any incidental costs of disposing of the shares (such as broker’s fees, etc.). From the relief must be deducted any consideration given in return for disposing of the shares, and the value of any other benefits received by the donor, or a person connected with the donor, in consequence of disposing of the shares.
- To claim the relief, donors have to enter details on their Self Assessment or Corporation Tax return.
- Gifts of shares are also exempt from Capital Gains and Inheritance Tax. The Development Office is happy to advise.
Stamp Duty Relief
Stamp duty is not payable when shares are donated to a charity such as Emmanuel College.
Capital Gains Tax Relief
Gifts of shares to Emmanuel are not liable to capital gains tax, which is applicable if shares that have appreciated in value are sold.
Inheritance Tax Relief
Gifts of shares to Emmanuel are exempt from inheritance tax.
Corporation Tax Relief
Corporate donors can offset the full value of their gifts of shares against their tax liability through their corporation tax returns. Like income tax relief, it takes the form of a rebate to the donor and it applies to the same range of gifts.