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 professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.
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