November 2 saw the launch of a nationwide drive to increase the number of people in the UK who leave money to charity in their wills. Legacy10, founded by Roland Rudd, will campaign to ask individuals across the UK to pledge 10% of their estate to charity.
“The goal of Legacy10 is to encourage a change in the way we in the UK regard legacy giving, and make it the norm for people to leave at least 10% of their wealth to good causes,” said Roland Rudd, founder and Chairman of Legacy10. "I am encouraged that a number of people have already made the pledge including Sir Richard Branson, Paul Myners and Sir Keith Mills. I call on others to follow their lead. We have a great incentive in the Chancellor’s introduction this April of a cut in inheritance tax from 40% to 36% for those who give at least 10% of their estate to charity. "
A new Populus poll of over 2000 people across the UK, commissioned by Legacy10, has found that over 80% were unaware of the impending changes to IHT, but that over 70% would now either make a legacy or consider doing so. One of the aims of Legacy10 will be to encourage that 70% to make a pledge as currently only 7% of the UK population leave a gift in their will, while 74% support a charity in their lifetime.
“I am pleased to back the foundation of Legacy10 and look to shake up the way we give,” said Sir Richard Branson. “It promises to make a real difference to good causes.”
Legacy10 will be creating ‘pledge ambassadors’ across the worlds of business, arts and entertainment, sport and philanthropy throughout the UK to reach across the charitable sector and help drive an increase in legacy giving. The first of these, announced today, is Richard Reed, a co‐founder of Innocent Drinks.
“Philanthropy is at the heart of what we do at Innocent,” said Richard “I am delighted to be asked to be an ambassador for the Legacy10 initiative. I call on my fellow business leaders to follow suit in the run up to next April’s tax changes. We all need to lead by example, to show that giving to good causes has the potential to transform our society by the direct contribution of individuals.”
Further details of Legacy10 and the campaign to increase legacy giving can be found here.
