Gifts of shares
Did you know that you can use shares to make a tax-efficient donation to Tearfund? If you donate shares to Tearfund, it is possible to claim tax relief equal to the market value of the shares on the day you made the gift, plus any costs incurred from donating them such as brokers’ fees. The relief is against your income tax for the year. For example, if you make a donation of shares that are worth £1,000 on the day the gift is made, and if you also have to pay a broker’s commission fee of £50, you are able to claim £1,050 against income tax.
In addition, when you make a gift of shares to a charity, there are no implications for Capital Gains Tax (no gain or loss).
How do I make a gift of shares?
We need to know full details of the shares that you wish to transfer together with an approximate price, if possible. An approximate value can be obtained from Norwich and Peterborough Sharedealing (N&PS- tel: 01733 372318).
We will then send you a Letter of Gift and a Transfer Form for your signature; these should be returned with the Share Certificate. This Letter of Gift is required to avoid incurring Capital Gains Tax. Once we have received these, we will deal with the transfer procedure.
Shares held by your broker can be transferred direct into our nominee account by contacting N&PS (tel: 01733 372318). Your broker will need to provide a contact name and full details of the shares that you wish to transfer. We will still need to send you a Letter of Gift for you to sign and return.
Small holdings of shares
Although Tearfund values all gifts of shares, it is administratively costly for us to process gifts of shares with a value of less than £100. These can still benefit charities including Tearfund if you donate them to ShareGift, the charity share donation scheme (Registered Charity No. 1052686). ShareGift collects these shares until it has enough to sell and then makes charitable donations from the funds raised. There is no charge to use this service. Tearfund has already received more than £90,000 from ShareGift. More information about ShareGift can be found on its website www.sharegift.org
If you have any questions making a gift of shares please email giving@tearfund.org