Touching Lives - February 2007
The relief from Income Tax is available for the full market value of the shares on the date of disposal. In other words, you will not pay Income Tax on the equivalent amount of your annual income in the tax year that the gift is made.
For example, if you are a higher rate taxpayer and make a gift of £1,000 worth of shares to Action Medical Research, you would receive Income Tax relief of 40 per cent of the full value, i.e. £400. This effectively means the donation has cost only £600.
Action Medical Research already funds many pioneering projects, particularly in the treatment of expectant mothers, newborn babies and children, and helping those who suffer from a wide range of conditions as diverse as Crohn’s Disease or Parkinson’s. However, your support is needed so we can do more.
For further information or assistance, please contact Toby Tennant on 01403 327436 or visit the Inland Revenue website www.hmrc.gov.uk