Introduction Example 3
Miss Smith inherited 10,000 shares in a listed company from her father in 1982.
In 2010 she decides to donate half the shares to a local animal shelter which is run by a charity.  At the time of the donation the 10,000 shares are worth £80,000 so her donation is worth £40,000.
Miss Smith is entitled to relief on £40,000 under section 431 of ITA.  The shares were acquired by her over four years ago so the new provisions do not apply.
Even if Miss Smith had inherited the shares in 2008 the new provisions would not apply as although the gap between acquisition and donation is less than four years, the shares were not acquired by her in circumstances where the main purpose, or one of the main purposes, of that acquisition was to obtain tax relief by donating those shares to a charity.