Gifts to charity

This screen is accessed via the data input tab within the tax return and allows for the entry of gifts to charity of shares and property via a grid. For more information see HMRC Helpsheet 342 – Charitable Giving.

Shares gifted to charity

Tax relief can be claimed for any qualifying shares and securities gifted, or sold at less than their market value, to charities.

Qualifying shares and securities are:

  • those listed on a recognised stock exchange, or
  • dealt in on any designated market in the UK
  • units in an authorised unit trust
  • shares in an open-ended investment company
  • an interest in an offshore fund.
  • Name of charity’ Enter the name of the charity to which the gift is made.
  • Description of shares’ Enter a description of the shares.
  • Net benefit’ Enter the net benefit to the charity (normally the market value of the qualifying investment). This can include incidental costs such as brokers’ fees or legal fees. Deduct any benefits or amounts received from the charity.
  • ‘Country’ If the charity is not a UK charity, enter the country in which the charity is registered. Leave this column blank for UK charities.

Property gifted to charity

Tax relief can be claimed for any gift, or sale at less than market value, to a charity of a ‘qualifying interest in land’, that is, the whole of your beneficial interest in that freehold or leasehold land in the UK. The charity must provide a certificate specifying the land and interest it has accepted.

  • Name of charity‘ Enter the name of the charity to which the gift is made.
  • Description of property‘ Enter a description of the property being gifted or sold.
  • Net benefit’ Enter the net benefit to the charity. This can include incidental costs such as legal or valuer’s fees. Deduct any benefits or amounts received from the charity.
  • Country’ If the charity is not a UK charity, enter the country in which the charity is registered. Leave this column blank for UK charities.

To delete a line from a grid, click the ‘trash can’  button at the end of the line.

Using income losses against capital gains

Firstly, please ensure that you are making the best use of the losses before proceeding. Select the Capital gains tab from the data input screen Click on the Disposals tab, and enter the relevant information Click on the Capital Losses tab, and enter the amount of loss that you wish to set off against the […]

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Restricting access to clients

This feature is only available for multiuser accounts, it has been designed so that you can restrict user access for certain clients if required. Users with “edit client access” rights AND who have access to a client can assign or remove access rights via the Access tab on the client screen. The default is that […]

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User restrictions within Taxfiler

This function is only available for a multiuser license. Some functions within Taxfiler can be restricted from a user. From the SETTINGS icon select Users and select the user that you wish to edit Select Restrictions tab You will be presented with several functions which can be selected or removed via a tick box. For […]

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