Home > Company News > How can I leave money to charity in my Will?

How can I leave money to charity in my Will?

Posted on: 20/05/2022

We often get questions from clients regarding Legacy Giving (leaving money to charity in a Will).

In his first article, Wills & Tax Partner James Hammersley answers some of these questions…

Can I leave money to charity in my Will?

Yes, it is possible to leave a charitable donation in your Will. This is known as legacy or a charitable bequest.

Leaving money to charity is a lovely way of supporting a worthy cause, perhaps something that is close to your heart, and is something that many people choose to include in their Will.

Does leaving money to charity reduce inheritance tax?

Inheritance Tax is not be payable on any charitable donation to a registered UK charity.

For this reason, making a donation to charity can be a good way of reducing your overall Inheritance Tax liability (whilst helping out a charitable cause).

If you leave at least 10% of your estate to charity, you may qualify to pay a reduced rate of Inheritance Tax at 36% (this is reduced from the usual 40% rate).

How to leave money to charity in your Will

There are two ways that you can leave money to a charity in your Will. You can either:

  • Name a specific charity that you wish to donate to, or
  • Let the trustees of your Will decide which charity gets what

If you choose the first option, we advise that you include the charity’s registered number in your Will; to ensure that the donation is made to the right place.

You can find a charity’s registered number by using the Gov.uk charity register search here.

What can I leave to charity in my Will?

Click here to read the full article.




Did you know, Dorset Chamber Members can submit news free of charge?

Submit your news

Most popular reads

Become a member

Become a Dorset Member today

Find out how

Dorset Focus Magazine

Keep your finger on the pulse

Get the latest business news in one neat package with our Dorset Focus Magazine. Read Online here

Business Training

Free Training to help businesses across Dorset provided by Dorset Chamber members

Some training opportunities are open to non-members

Find out more

Business Partners