CAF: Property donations are free from CGT
Date posted: 24 Jun 2010
Many people are unaware of the fact that the likes of land and shares can be donated to charities, CAF figures suggest.
Published by Alison Gamble.
A number of people appear to be unaware of the fact that they can make charitable donations using land, property and shares, research published by the Charities Aid Foundation (CAF) has revealed.
Of those polled in a recent survey by the organisation, as few as 30 per cent of respondents realised that property and land can be used by donors.
Meanwhile, just 20 per cent of respondents to the study knew that shares could be donated.
Following yesterday's (June 22nd) emergency Budget, which outlined plans to raise capital gains tax (CGT), the CAF has emphasised that property, land and share donations do not have this form of tax applied to them.
John Low, chief executive of the foundation, has discussed what CAF would like to see following the CGT increase.
He stated: "We hope that more and more higher-rate taxpayers wanting to support charity will consider donating shares, property or land to charity."
In his Budget, chancellor George Osborne also confirmed that VAT is to go up to 20 per cent next January.
Please contact Janet Turner, head of not for profit services for further information or call 01223 225027
Click here to email or call on 01223 225237.
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