Gifts of stock

Donating shares is an easy and effective way to help the National Gallery. There are generous tax incentives for individuals to give shares to the Gallery.

You can claim tax relief equal to the market value of the shares on the day you make the gift, together with any associated costs such as brokers' fees. The relief is against your income tax for the year.

Additionally, you will not have to pay any capital gains tax on any increase in the value of the shares since you bought them. However, if your shares have gone down in value, you should be aware that you will not be able to use this loss to offset any other capital gains tax liability you may have.

Which shares can I give?

Tax relief is available to UK taxpayers donating shares and securities listed on the UK Stock Market, the Alternative Investment Market and recognised stock exchanges overseas. It is also available for units in a UK unit trust and shares in a UK open-ended investment company (OEIC).

How does it work?

You claim tax relief equal to the market value of the shares on the day you make the gift, together with any associated costs such as brokers' fees. This sum is set against your income for the financial year.

Example: gift of shares worth £10,000

  • Income tax relief: 40% of £10,000 = £4,000
  • Capital Gains Tax avoidance: 40% of £8,000 = £3,200
  • Tax saving: £7,200
  • Effective cost to donor: £2,800 (28%)

To make a gift of shares

Please contact the Development Office in the first instance so that we can help arrange the transaction. Information about making gifts of shares from the United States is also available.

We are unable to provide individual tax advice and strongly advise you speak with an independent financial advisor and Inland Revenue for professional advice about donating shares.

development@ng-london.org.uk

 
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