Charitable Donations – What can you do to help this Christmas? It is a question that so many of us ask during the season of giving. With that in mind, Laura Richardson’s latest article lets you know what you could do to help a charity this Christmas with more than just charitable donations . . .

Christmas is traditionally the season of giving, and according to the Charities Aid Foundation UK, November and December are still the periods of highest donation to charity across the UK with over a third of us donating to charity during November and December each year. People donate in many different ways over the Christmas period with the most popular way being via a cash donation. However, there are also many campaigns that target the festive period in order to boost giving, such as:

  • Shoe-box appeals, which request various items are used to fill up a shoe0box to send to someone in need.
  • Carol singing and other collection-based festive events.
  • Christmas Cards, printed and sold by many UK charities.
  • Santa runs, which take place in many towns and cities across the UK in which participants collect sponsorship money and dress as Santa for a race.

What many of us may not be aware of is that one of the most mutually beneficial ways to donate to a charity is via a legacy gift within your Will. According to the UK organisation ‘Remember a Charity’, charitable donations are the largest single source of income for charities, making up a crucial 13% of donations for UK charities, despite the fact that currently, only around 6% of people in Chelmsford and across the UK leave a gift to a charity within their Will.

So, why is leaving a charitable legacy within your Will beneficial to your Estate? The simple reason is tax! If you leave at least 10% of your Estate to a registered charity, your Estate will pay a reduced rate of Inheritance Tax at just 36% rather than the standard 40% applied as standard. What’s more, the portion of your Estate that is donated to charity does not count towards the calculated value of your Estate which will also reduce your Inheritance Tax bill!

There are different ways in which you can leave a gift to a charity within your Will outside of mere charitable donations. You may wish to bequeath a certain item, a fixed amount of cash, a defined share of your Estate, or you can choose to bequeath the ‘residuary’ of your Estate which is the amount of Estate which is left over after all costs, named items and assets have been distributed as per your Will. Therefore if you would like to discuss leaving a charitable legacy within your Will, contact Andrew Douglas Wills & Legals Services today. Whether in Chelmsford or across the UK, call today to arrange your free initial consultation!

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