Twelve million individuals own shares in the UK worth a staggering £200 billion. Even if only a tiny fraction of these shares were donated to charities, imagine the difference it could make.
Why not donate shares and support a good cause. Thousands of people own a handful of shares, perhaps from an inheritance, company privatisation or take over. You may not have thought to do anything with them, for fear of generating more paperwork than income.
Now you can put those shares to good use by donating them to Portland, we will accept all donations of shares, whatever the size.
Donating shares to Portland College and claiming a tax break is easier than you think.
The first step is to give us a call and let us know you are planning to donate some shares. Depending on how shares are held, you might have to fill out a stock transfer form or simply arrange for a transfer from your nominated account straight to the charity.
Since April 2000 there have been generous tax incentives for both individuals and companies to give shares to charity. You can now claim income tax (or corporation tax) relief on the value of most shares and securities. Also, you are exempt from any tax or capital gains that might have arisen if the shares had been sold. It could be a wise investment decision because of the tax relief, which can be claimed on the value of the shares.
There are two ways Portland College processes gifts of shares:
1. Add them to our existing portfolio (dependent on type and quantity of shares). Portland will prepare the transfer documents for shares that will be retained and forward these to the donor for signature.
2. Other shares received will be processed via our stockbrokers or forwarded to ShareGift. Both will arrange transfer into their respective names. ShareGift (an independent charity share donation scheme, who do not charge an administration fee for their service) will retain shares until such a time as they have built up a number for transfer. Income from the sale of these shares will be distributed as directed by ShareGift. The proceeds from the shares passed to our stockbroker for selling will be forwarded to Portland College.
Individuals can get tax relief, in addition to the capital gains tax relief on gifts donated to charity. Visit the charities section of the Inland Revenue website for further information.
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