Donating shares to Charities can be an effective and economic means of providing support as the founder of Superdry discovered. Julian Dunkerton co-founder of Superdry is to gift £1.2m of shares to The Blue Marine Foundation as he steps down from the company he founded. Superdry is currently worth £1.75bn and he is reputed to own 25%.
Blue Marine Foundation
This ‘Blue Belt’ ocean supporting charity reports the UK is the ‘fifth largest marine estate in the world and can play a leading role in protecting the oceans. Its overseas territories are spread across the world’s oceans and contain 94% of Britain’s biodiversity’.
The Blue Belt includes British Overseas Territories of Ascension Island, British Antarctic Territory, British Indian Ocean Territory, Pitcairn Islands, South Georgia and the South Sandwich Islands, Saint Helena and Tristan da Cunha. The aim is the creation of globally significant marine reserves in British waters. #BackTheBlueBelt.
- Many charities actively encourage the donation of quoted company shares. Even small numbers of shares are useful as they can be aggregated and sold as a ‘lot’.
- You don’t have to pay Capital Gains Tax on shares you give to charity and can claim income tax relief on your self assessment form.
- Shares donated in your will can be taken off the value of your estate before Inheritance Tax is calculated or reduce your Inheritance Tax rate, if more than 10% of your estate is left to charity.
- As well as being philanthropic donated shares like those of Julian Dunkerton can boost a charities reserves or be used for projects.