Donations of quoted shares or land and buildings (rather than cash) to UK charities provide income tax relief for the taxpayer.

The mechanism for income tax relief is different from gifts of cash. Where qualifying non-cash assets are gifted, the market value of the asset is deducted from the taxpayer’s total income rather than adjusting their basic rate tax band. For details of tax relief on cash donations, see the Gifts of cash to charity guidance note.

Relief is claimed on the tax return by reporting the value of the asset in box 9 or 10 (depending on the type of asset gifted) on page TR4 of the main tax return. There is no facility to report the donations on the short tax return.

From 6 April 2012, taxpayers are able to obtain a tax reduction where they gift pre-eminent objects of national importance to the State. This is referred to in the legislation as ‘gifts to the nation’ and is also known as the ‘cultural gifts scheme’. The individual receives