UCL can accept gifts of land or property in a donor’s lifetime, and these gifts now attract the same tax incentives as gifts of shares.

Tax relief applies to any property, large or small, providing that the whole interest in the property is donated and UCL has agreed to accept it.

Please note that relief cannot be carried forward or back a tax year if the donor has insufficient income during the year in which the gift is made to make full use of their eligible deduction.

Tax relief is given for the market value of the property as a deduction from the donor’s income chargeable to income tax for the tax year in which the gift is made. The Income Tax relief is in addition to any exemption from Capital Gains Tax that may also be available to the donor.

All the tax relief goes to the donor of the property.

Example: Donation of residential property valued at £100,000

  • Market value of property: £100,000
  • Costs of transfer: £3,000
  • Deduction against income: £103,000
  • Income-tax relief for higher rate taxpayer (£103,000@40%): £41,200

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