Gifting to Charities? Land, Building and Shares explained.

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New HMRC guidance has confirmed that charities and community amateur sports clubs can accept gifts of buildings or land under wills, and either keep them or sell them to release funds. These gifts can be received at their value on the date of the actual transfer. In order to transfer such gifts, the donor must receive a certificate from the charity to show that they are accepting the gift.

Gifting to charities will also exempt from stamp duty land tax.

Furthermore, any shares that charities receive are now also exempt from stamp duty and act as a receipt of any future dividends. Either the donor or the charity must send a stock transfer form and share document to be sent to the Stock Exchange registrar.

For more information, see https://www.gov.uk/tax-relief-on-gifts-of-land-buildings-or-shares.

Aston Bond Solicitors are here for all your wills and probate needs. Contact us today on 01753 486 777 or come down to our offices at Windsor Crown House, 7 Windsor Road, Slough, SL1 2DX.