The Ellen MacArthur Trust is pleased to announce the launch of a new charity share giving scheme; the scheme allows individuals to reclaim income tax relief on the market value of the shares donated, for higher rate tax payers this equates to 40% tax relief on donations.  The Trust has teamed up with Redmayne-Bentley Stockbrokers and Grant Thornton who have set up the scheme, providing their services free of charge in order to run this scheme.

How Does It Work?

A gift of shares to charity allows individuals to obtain income tax relief at the highest rate they pay tax. There is also no Capital Gains Tax on the gift of shares to charity.  The arrangement takes advantage of this so that both the donor and the Ellen MacArthur Trust can benefit.

Tax relief is available in the same tax year you gift the shares. For example, if you gift the shares in September 2007, your 2007/8 income tax liability can be reduced. The amount of the relief will be the market value of the shares at the date of the gift.  The Ellen MacArthur Trust will provide this figure to you as part of the share transfer documentation after you have made your donation.

The results are beneficial for both parties. Those who donate will receive tax relief for the market value of the shares, have no capital gains tax on the gift of the shares and will pay no Inheritance Tax on the shares donated.  The trust will pay no stamp duty and can receive a higher donation due to the lack of capital gains tax for donations.

“We are very pleased to announce this new scheme, and I would like to thank John Caulcutt, Grant Thornton and Redmayne-Bentley Stockbrokers (Southampton office),  for making this all possible – it is the most tax efficient way to support the Ellen MacArthur Trust ”. 

Download the Share Giving Scheme booklet here:

http://www.ellenmacarthurtrust.org/ShareGiving/tabid/119/Default.aspx

For more information on the Share Giving Scheme please contact Frank Fletcher direct on:

T:  0870 0636774

e frank.fletcher@ellenmacarthurtrust.org