Interesting re gifting shares to charity >>>

Posted by HamsterWheel on 14/January/2004 at 10:33:

In Reply to: CGT - Carrying losses forward ? posted by mikeyw on 14/January/2004 at 10:20:

I've got some shares that are worth a fraction of what I paid for them in the tech boom (NMT) and was thinking of gifting them to charity as the proceeds of selling them would only be a bit more than the sale costs.
However, I see that if I do so, no gain OR LOSS arises for me. Bad news as I need the loss to use against my current bumper tech profits to keep my pennies away from G Brown. So I'll have to sell them in the market.
Beware !

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Comments:	: I've got some shares that are worth a fraction of what I paid for them in the tech boom (NMT) and was thinking of gifting them to charity as the proceeds of selling them would only be a bit more than the sale costs. : However, I see that if I do so, no gain OR LOSS arises for me. Bad news as I need the loss to use against my current bumper tech profits to keep my pennies away from G Brown. So I'll have to sell them in the market. : Beware !