Latest News
|

2006 Fun Run
or Walk
Our annual Fun Run or Walk is taking place on Sunday 24th September. Spaces are available now. Click Here for more details about this fantastic event. |
|
|
Gifts of Land and Property
What is it?
Further to the Budget 2002, donors who give real property (land or buildings) to charity are eligible for full tax relief from income and capital gains tax.
Similarly to Share Giving, donors are entitled to claim relief for the full market value of the property donated.
Do people really give houses to charity?
Yes - this tax relief is open to individuals and companies, you would be surprised how many people have given to charity in this way. Whether it be a plot of land that you no longer use, or something on a grander scale, this tax relief applies to any property, providing that the whole interest is donated and the charity agrees to accept it.
Famously, in January 2002, David Gilmour from Pink Floyd sold his house for £6.5m, and donated the proceeds to the charity Crisis. Unfortunately, however, this took place before this tax relief was introduced a few months later, but just think how much the tax relief on this gift could have been worth.
How do I do it?
You need to:
• Contact the charity you wish to give to and confirm their agreement to accept the gift, they may help arrange the transaction
• Transfer the gift to the charity
• Keep evidence of the gift, the date it was made and the charity's acceptance
• Claim the appropriate tax relief
• Be aware that if you receive any benefit as a result of making the gift, this will reduce your tax relief.
You can claim relief by:
• Completing the appropriate section of you Self Assessment return, or
• Requesting that your PAYE code is amended for the current tax year, or
• Requesting that your Self Assessment Payments on Account are reduced.
If you are not sent a Self Assessment return at the end of the tax year, or if you want to claim relief before the end of the current tax year, you should write to your Tax office, giving full details of the gift, in order to claim the relief.
Further Information
Further details are available from HM Revenue & Customs website, or by calling 0845 3020203 alternativley you can contact Lesley Brooman at the hospice on 01444 471598.
Source: http://www.givingcampaign.org.uk/
|
Safeguard Yourself
Around the World,
Around the Clock!
Click Here for Information

|