Legacy10 is an independent campaign, launched in November 2011, to encourage charitable giving in the United Kingdom. The campaign aims to take advantage of the change in inheritance tax rules to increase the number of people leaving money to charitable causes in their will. From April this year, anyone leaving 10% of their taxable estate to charity will qualify for a reduced rate of inheritance tax.
Currently, three quarters of the population give something to charity every year but only 7% of that group leave a gift to charity in their will. Even at this level, legacies provide a vital source of funding. However, if more of us were to make provisions for the causes we hold most dear, the benefits would be enormous. The recent amendment to inheritance tax presents us with an ideal opportunity to collectively make this change.
Legacy10 has many advocates, including Sir Richard Branson, Founder of the Virgin Group who says
‘I am pleased to back the foundation of Legacy10 and look to shake up the way we give. It promises to make a real difference to good causes.’
For more information on leaving a legacy to support The Cyrenians and to see how the changes to Inheritance Tax have made it more attractive to support charities through legacy giving, please visit the Legacy10 website by clicking on the icon.