What type of shares can New Futures Nepal accept?
What are the benefits for me if I donate shares to New Futures Nepal?
What are the benefits for New Futures Nepal?
How do I actually transfer shares to New Futures Nepal?
I only have a few shares is it worth New Futures Nepal having them?
I have a query regarding my tax position
How do I turn my donations into Gift Aid?
How do I claim my higher rate tax relief?
Can I donate anonymously?
Can I donate time instead of money?
What records do I need to keep?
What type of shares can New Futures Nepal accept?
New Futures Nepal can only accept donations of shares that are:
- in UK listed companies
- ordinary shares
- in the donor's name (please do not transfer shares into New Futures Nepal name as this causes administration problems)
What are the benefits for me if I donate shares to New Futures Nepal?
Income Tax
If you donate shares to New Futures Nepal, you can get income tax relief on the donation. If you are a higher rate taxpayer, for instance, and donate £1,000 worth of shares, you will get £400 tax relief. Or, if you pay tax at the standard rate, the relief would be £220. You can claim this on your self-assessment tax form, or by contacting your local tax office.
Capital Gains Tax
Normally, if you sell shares for more than what they were valued at when you acquired them, this is known as making a Capital Gain. You can make Gains up to an annual limit (the allowance for individuals for the tax year 2009-10 is £10,100) without having to pay tax on this money, but anything above that will be subjected to Capital Gains Tax (40%). However, you will not have to pay any Capital Gains Tax on shares that you donate to New Futures Nepal. This exemption may therefore be important to you if you have already reached, or are likely to reach, the annual limit.
What are the benefits to New Futures Nepal?
Share donations are an alternative to cash donations and are increasingly becoming a valuable source of income for New Futures Nepal.
How do I actually transfer shares to New Futures Nepal?
All you need to do is print the Crest transfer form from this site and complete the following sections:
- Name of undertaking
- Description of security
- Amount of shares or other security in words and figures
- In the name(s) of - complete your name and address in this field
- Signature
Then send the Crest form with your share certificate/s to:-
The Treasurer
I only have a few shares. Is it worth New Futures Nepal having them?
The administration involved in New Futures Nepal transferring and selling a smallholding of shares may outweigh the financial return. If your shares are worth under £100 please contact ShareGift and nominate New Futures Nepal to receive a donation. ShareGift are a registered charity that specialise in administering small amounts of shares. For more information about ShareGift please visit www.sharegift.org
I have a query regarding my tax position
New Futures Nepal is unable to advise on personal tax issues and recommends that you speak to a financial advisor, an accountant or contact the Inland Revenue helpline on 0151 472 6043/6046 or 0131 777 4040 in Scotland, or visit their website www.hmrc.gov.uk/charities
For more information about donating shares to New Futures Nepal, contact Paul Crook by email: finance@newfuturesnepal.org or download IR178, "Giving Shares and Securities to Charity"
How do I turn my donations into Gift Aid?
You must send us a Gift Aid Declaration. You must pay income tax and/or capital gains tax at least equal to the amount that we will reclaim on your donations.
How do I claim my higher rate tax relief?
You have to make an entry on your Self Assessment return.
Can I donate anonymously?
Yes, but for us to be able to claim repayment under the Gift Aid scheme we need to be able to link the donation with a Gift Aid Declaration given and signed by you.
Can I donate time instead of money?
Charities are only able to claim tax back on monetary donations. Please see our Fundraising Ideas for ways to help with your time.
What records do I need to keep?
- details of all Gift Aid payments
- the name and registration number of the charity
- the amount and date of payments
For companies, you will only need to keep a normal accounting record of the amount paid to the charity. We can also provide companies with receipts for any donations, which will support the company's claim for tax relief.