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Posted Mon, 02 Dec 2024 23:03:53 GMT by Nigel Hunt
I want to give some shares now worth £10,000 to a registered charity. The shares cost £6,000. I think this gift is exempt from CGT. The charity prefers me to sell the shares on their behalf, and gift them the proceeds instead.. If I make the gift this way, is it still exempt from CGT? Can the charity claim Gift Aid on the £10,000, and can I use the gross gift of £12,500 to increase my basic rate income tax band?
Posted Fri, 06 Dec 2024 12:55:08 GMT by HMRC Admin 19 Response
Hi,
If you sell them then there is still CGT to pay on any increase and amount over the annual allowance which is £3000 for 2024 to 2025. You can then clam this as Gift Aid.
If you gift the shares, you cannot claim Gift Aid.
Thank you.
Posted Wed, 11 Dec 2024 14:39:12 GMT by Nigel Hunt
Ok, thanks.

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