Donate An Asset
Donate an asset to charity...
Donating an asset to the charity has many associated benefits. Whilst you are directly helping families living the effects of a cancer diagnosis, there can be tax and financial benefits too. On some donations, Gift Aid can also boost the value of the donation by 25%.
Before you sell an asset and donate the net proceeds to charity, consider donating those assets directly to the charity first. Many people do this to manage assets in their estate for Inheritance Tax (IHT) planning purposes. Alternatively, you may want to gift an asset to the charity in your Will. If you would like to find out more abour leaving a legacy to the charity, please get in touch.
There are two major benefits of doing this:
- Account for the fair market value of the asset which is often higher than when an asset needs to be sold quickly. This has the potential for higher tax relief.*
- Increase the value of the gift to charity, partly due to a higher market value but also because charities do not pay capital gains tax. Consequently, the full value of your gift goes to help families affected by cancer.
* Fair market value of the property, as determined by a qualified independent appraisal
Assets Of Interest
We are particularly interested in assets which we can put to work to deliver respite days or holidays for cancer patients and their families. In doing so, you will be helping families in very difficult circumstances get away for a much-needed break.
We are especially interested in:
- Holiday homes (UK or overseas)
- Static caravans / mobile homes
- Sailing yachts / motor boats / canal boats
- Timeshares / holiday bonds
- Land / building plots
- Shares / financial assets
Case Study: Dash
When we were approached by the owner of a yacht called ‘Dash’, who was interested in donating it to our Sail 4 Cancer sister charity, we were amazed by the owner’s kindness.
The Freedom 25 yacht was an incredibly spacious and stable 25 foot sailing yacht which comfortably accommodated six people on deck. There was a small kitchen below deck with sleeping accommodation for six people. Given there was also a toilet on-board, the yacht was perfect for day trips.
Given most of our sailing operations are focused on the South Coast of England and also in Scotland, we decided that we needed an asset nearer to the middle of the country to assist local families going through difficult times.
Dash was moved to Lake Windermere in the Lake District and provided sailing days for families based between the cities of Birmingham and Leeds! The owner of Dash has left a lasting legacy to the charity and also helped to moved the value of his asset of his estate for inheritance tax purposes.
