According to HMRC data, wealthy individuals gifting over £1 million to charities has risen.
HMRC have stated that there has in fact been a substantial increase by circa 31% - an increase to 3,043 from 2,328.
It is great to see that there has been such a substantial rise in gifs to charities. Not only can it be tax beneficial for you, but this also provides a large financial boost for the charity (or charities) of your choice, especially during the Covid-19 pandemic.
Currently, over 10,000 charities on average are named in Wills each year. Hopefully, this will help future generations leave a gift in their Will to a charity.
The information provided in this article is not intended to constitute legal advice and you should take full and comprehensive legal advice on your individual circumstances by a fully qualified Solicitor before you embark on any course of action.
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