Gifts to the Feeney Trust
If our objectives appeal why not make a gift to the Feeney Trust or leave a legacy in your will? Your gift or legacy can either be added to our capital fund (about £1.5m) to produce additional income for our grants or it can be ear-marked for some particular project to which you would like us to give extra support.
Please get in touch with our secretary, Amanda Cadman, at firstname.lastname@example.org.
The following notes on the tax incentives that are available may assist.
If you are a UK tax payer, you can increase the value of your gift to Feeney by 25%, at no cost to yourself, by allowing us to claim tax back under the Gift Aid Scheme.
One declaration can cover every gift to Feeney and can also cover gifts you have already made. But you must be paying more income tax or capital gains tax than the value of your gifts to Feeney and other charities in the same tax year.
If you are a higher-rate taxpayer, you can claim back the difference between the higher and basic rate of tax on the gross value of your gift (ie its value plus the 25% we can claim).
Gift by Will
A legacy to Feeney or another charity will be exempt from Inheritance tax (IHT). Additional relief to encourage charitable giving was introduced for deaths on or after 6 April 2012. If 10 per cent or more of the chargeable estate (after deducting the nil-rate band and all IHT exemptions and reliefs except charitable legacies) is left to charity, the rate of IHT payable on the balance of the estate (which does not pass to charity) is reduced from 40 per cent to 36 per cent.
These IHT reliefs are matters on which you must seek your own professional advice.
If you don't already have a Will, a solicitor will be able to draft one for you. This is usually inexpensive and with a proper Will in place you can be sure your wishes will be carried out.
If you have a Will, it's easy for the solicitor to add a gift by writing what's known as a 'codicil'. And if there has been a change in your personal and financial circumstances it may be time to think of revising your current Will and seeing whether there are other changes you might wish to make at the same time as you add a gift to Feeney.
If you are the beneficiary of the estate of someone who died on or after 6 April 2012, you should ask the executors whether the additional relief for charitable giving could reduce the cost to you of a gift to Feeney out of your share of the estate.