Robert's experience of donating shares
"St Peter’s Hospice, Bristol, does fantastic work.
"I have been a regular small scale supporter of St Peter's for a long time. Last year, after reading a news article about the financial headwinds that hospices face, I made a larger one-off donation. This was done through the Donations web page, using my debit card. I wondered whether there might be a "better way" to donate. I have a portfolio of shares built up over many years.
"After researching the tax treatments of cash versus share donations, I concluded that the income tax relief was similar, but that share donation for me had the added advantage that it was exempt from capital gains tax.
"St Peter's Hospice put me in touch with ShareGift. The ShareGift staff were very knowledgeable and helpful. They were able to clarify that for "large donations" (currently over £500) ShareGift is almost always able to support the suggested charity. The share transfer process could not have been easier. I hold my shares through one of the major investment platforms. ShareGift have an account on that platform. So I simply had to message the platform, to transfer the designated number of shares, and the transfer went through. For my tax return I will enter the value of the shares on date of transfer.
"Three weeks or so after the transfer, St Peter's Hospice phoned to say that they had received a grant from ShareGift and to thank me. Pleasingly, the amount of the grant received by St Peter's was more than 10% greater than the value of my share donation: because a significant proportion of donations that ShareGift receives come without a charity suggestion.
"I would use ShareGift again."