Share giving
Rescued by Pwllheli lifeboat
'Having taken the decision to request assistance, the RNLI team were superb, quick and very caring of yacht and crew.'
Mr Stone
What type of shares can the RNLI accept?
Can the RNLI accept Shares in nominee accounts?
What will RNLI do with my shares?
What are the benefits for me if I donate shares to RNLI?
What are the benefits for the RNLI?
How do I actually transfer shares to RNLI?
I only have a few shares is it worth the RNLI having them?
I have a query regarding my tax position
What type of shares can the RNLI accept?
The RNLI can only accept donations of shares that are:
¤ in UK listed companies
¤ ordinary shares
¤ in the donor's name (please do not transfer shares into the RNLI's name as this causes administration problems)
Can the RNLI accept shares in nominee accounts?
Yes. Corporate fundraising will provide details to donors on how to transfer these to the RNLI's nominee account. Please contact Rhys Parker on 01202 663285
What will RNLI do with my shares?
It is the RNLI's policy that, when it receives gifts of shares, they are sold as soon as is practicable. This is because if we held on to them their value might change and we believe that we should not speculate with gifts entrusted to RNLI, but use them as soon as possible.
What are the benefits for me if I donate shares to RNLI?
Income Tax
If you donate shares to RNLI, you can get income tax relief on the donation. If you are a higher rate taxpayer, for instance, and donate £1,000 worth of shares, you will get £400 tax relief. Or, if you pay tax at the standard rate, the relief would be £220. You can claim this on your self-assessment tax form, or by contacting your local tax office.
Capital Gains Tax
Normally, if you sell shares for more than what they were valued at when you acquired them, this is known as making a Capital Gain. You can make Gains up to an annual limit (the allowance for the tax year 2005/06 is £8,500) without having to pay tax on this money, but anything above that will be subjected to Capital Gains Tax (40%). However, you will not have to pay any Capital Gains Tax on shares that you donate to the RNLI. This exemption may therefore be important to you if you have already reached, or are likely to reach, the annual limit.
What are the benefits to the RNLI?
Share donations are an alternative to cash donations and are increasingly becoming a valuable source of income for the RNLI.
How do I actually transfer shares to RNLI?
All you need to do is print the Crest transfer form from this site and complete the following sections:
¤ Name of undertaking
¤ Description of security
¤ Amount of shares or other security in words and figures
¤ In the name(s) of - complete your name and address in this field
¤ Signature
Then send the Crest form with your share certificate/s to: Rhys Parker Corporate Fundraising Assistant, RNLI West Quay Road, Poole, Dorset BH15 1HZ
I only have a few shares. Is it worth RNLI having them?
The administration involved in the RNLI transferring and selling a smallholding of shares may outweigh the financial return. However, if your shares are worth under £100, you can dispose of them charitably by donating them to the specialist charity ShareGift (registered charity 1052686). ShareGift has been set up especially to accept donations of small amounts of shares that cannot otherwise be sold. They collect donated shares until they have enough to sell and use the funds released by their work to support a wide range of UK charities, including the RNLI. For more information about ShareGift please visit www.sharegift.org
If you have any queries about your tax position
The RNLI is unable to advise on personal tax issues and recommends that you speak to a financial advisor or contact the Inland Revenue helpline on 0151 472 6043/6046 or 0131 777 4040 in Scotland, or visit their website www.hmrc.gov.uk/charities/chapter_5.htm
For more information about donating shares to RNLI, contact Rhys Parker on 01202 663285, email: rhys_parker@rnli.org.uk