Leaving a Gift in your Will
Legacies have played, and continue to play, an important role in the history of Radley College. Gifts left to the Radley Foundation and the College have created bursaries and scholarships and contributed to the environment in which the boys live and work.
The Radley Foundation is a registered charity (number 272671) which means that the value of any gift left in a will is deducted from the value of the estate before it is assessed for inheritance tax, reducing tax liability. Since 2012, tax legislation in the UK provides for reduction in inheritance tax from 40% to 36% where 10% or more of the assessable value of an estate is left to charity.
Leaving a legacy to general purposes (or ‘Trustees’ discretion’) is the best way to help the College meet its priorities in a changing context. Alternatively, you may wish to consider leaving a gift to:
- Scholarships and Bursaries
- Buildings and infrastructure
- Sports, drama or music
Information about all of our funds can be found here:.
Suggested wording for a will
‘I give [x% of my residuary estate or £x] to the Radley Foundation, charity registration number 272671, Radley College, Radley, Abingdon, Oxfordshire OX14 2HR, UK to be applied for its general purposes [or named purpose] and I declare that the receipt of the Bursar or appropriate officer shall be a complete discharge to my trustees.’
If you would like to discuss leaving a gift for a specific project, or would like to discuss any aspect of leaving a gift in your will to Radley, please contact Henry Cosh on +44 1235 548547 or HRC.Cosh@radley.org.uk
It is very important for everyone to make a Will to ensure that their wishes for their Estate can be carried out as they intend. A solicitor is the best person to advise on this and will be able to help you decide which of the following would be right for you.
It is, of course, also possible to combine one or more of the above.
You should consult your legal adviser or accountant before making a new Will or making any changes to your existing one but, in general, gifts made to Radley, during your lifetime or on your death, are exempt from Inheritance Tax. Bequests made to charities, including The Radley Foundation, can be deducted from the net value of your Estate, thus reducing your Inheritance Tax liability.
The Inheritance Tax threshold is usually reviewed in the Budget each year and information on the current level is always available from the Government Website.