Legal News | 19.10.23
Will you or won’t you?
Have you thought about leaving a gift to charity in your Will? This was discussed at our recent Wills, LPAs and Charitable Giving event.
Many people have, as charitable legacy giving has risen by 43% within the last decade. Not only can you rest in peace knowing that you have benefited your chosen charity, you may also be securing tax benefits for your estate.
With more estates becoming subject to inheritance tax, HM Revenue and Customs saw £7.1 billion in revenue from inheritance tax in 2022 – 23.
Not only are legacies to UK registered charities exempt from inheritance tax, if you leave 10% of your net estate to charity, then the inheritance tax rate is reduced to 36% (from 40%) for the taxable part of your estate.
If you would like to know more about charitable giving, please contact us at wealth@wansbroughs.com
Wiltshire Community Foundation’s (WCF) Women and Girls Fund
Women and girls’ groups receive less than 2 percent of the UK’s total charitable giving. A dedicated Women and Girls’ Fund launched by WCF will aid the advancement, empowerment and support of women and girls across Wiltshire.
The fund will support local charity and community groups running projects that challenge the inequality, abuse and discrimination experienced by women and girls, and amplify their voice and experience to advocate for change, to make our county a fairer and safer place.
Wansbroughs is proud to be the first corporate sponsor of Wiltshire Community Foundation’s Women and Girls Fund.
