New U.K. tax rules – Encouraging charitable giving

New tax measures are encouraging donations in the United Kingdom, Bloomberg reported July 2.

Nigel Ross, joint chief executive of property-investment firm Compco Holdings PLC, has set up a trust with 200,000 shares of his company, valued at 625,000 pounds, or $946,690. In an interview, Ross said he was encouraged by the government’s new tax rules.

Those rules, instituted April 1, allow full tax relief on cash donations and gifts of stock.

Beneficiaries of the Lynne and Nigel Ross Charitable Trust include the Holocaust Education Trust, World Jewish Relief, Jewish Care and Christopher Place, the London-based speech, language and hearing center.

For full text, see America Online.

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