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Remembering charities

The week of the 12th to 18th of September 2016 has been designated as Remember a Charity week.  Whilst the message is serious, the team behind the week has come up with all sorts of interesting and fun ways in which to get the message across. For example, Aardman Animations, the team behind Wallace and Gromit, have put together a charming and thought-provoking animation to support the aims of the week.

The film also highlights the findings of some research which was carried out again with the Remember a charity week in mind which revealed that 28% of us value the wisdom which our loved ones have left us with, rather than keepsakes or valuables. The survey also revealed the top ten phrases which we would most like to pass on to a loved one, headed by ‘make the most of every day’.

The aim of the Remember a Charity week is to encourage us to leave a legacy to one or more charities in our wills. Over 37,000 people did just that in 2015, a rise of 5% over the previous year. Leaving a legacy in your will is not only a final chance to support a cause which you hold dear, it can also be an effective tax planning tool. Depending on the amount the legacy can either be taken off the value of your estate before inheritance tax is calculated or reduce the inheritance tax rate if more than 10% of the estate is left to charity.

If you would like to speak to a tax adviser in Covent Garden, London about tax efficient charitable donations or maximising charity revenue through donations, please contact Newshams Tax Advisers on +44 (0) 20 3151 0650 or email us at enquiries@newshams.com.

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