Leaving a Community Legacy
Legacy giving is an increasingly important source of income, accounting for a quarter of the total amount given to charities each year, worth over £2.24 billion in the UK, enabling charities to carry out their vital work. With figures showing that over 80% of giving goes to the top 5% of national charities, we would like to encourage more people to think local.
If helping to make your community a better place is important to you, then UTRUK can help.
We can offer:
- Our unique knowledge of community needs. As a charity, we have worked in South Yorkshire for over 30 years and have supported thousands of essential community projects and charities with grant funding in South Yorkshire. Which
means,we are best placed to ensure your gift helps those who need it most.
- Our professional service to you, your family and your professional advisors. We will work with you and your solicitor or professional advisor to support you while you make a choice that fits your giving wishes.
- Tax effective giving. Gifts can be large or small, a percentage of your Estate or a fixed sum gift. Through SYCF, gifts can either be taken off the value of your Estate before
inheritanceTax is calculated,or else reduce your inheritanceTax rate from 40% to 36% on some assets, if more than 10% of your Estate is left to charity.
Further guidance on Inheritance Tax >
Leaving a gift in a Will can make a huge difference to local communities and there are many ways you can ensure your legacy counts.
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An Unrestricted Gift
Personal Funds are bespoke to your charitable wishes. You can choose the name of the fund or whether to remain anonymous, the geographical area of benefit in South Yorkshire, the charitable priorities and the level of involvement with giving.
Funds can either be endowment (where the capital sum is invested and the income used for
Personal Funds can be established from £25,000 and can be built up over a period of time.
Donations of any size can be made to existing geographical funds for Sheffield, Rotherham, Barnsley, Doncaster and South Yorkshire as a whole.
Gifts in your Lifetime
You can make an immediate contribution to your community with a
Different kinds of Legacy
Pecuniary Legacy – is a fixed amount specified in your will. It is free of tax, which adds considerably to the value of your gift.
A Residuary Legacy – is the remaining value of your estate after all other bequests to family and friends have been made.
A Reversionary Legacy – allows family and friends to benefit from your estate during their lifetime and then for the balance of the estate to pass to the Community Foundation.
Specific – a particular item, such as shares, property or valuables, left to the Foundation will be free of inheritance tax.
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If you need some advise about leaving a legacy