Queen's Lane • Oxford • OX1 4AR • Tel: +44 (0)1865 279000
Legacies from Aularians have always made a very important contribution to the well being of the College. They allow the Hall to plan ahead in the knowledge that capital sums will be available in the future to support cherished projects. Legacies also allow Aularians to leave a permanent commemoration of their affection for the Hall and will help future generations of students.
Legacies are one of the ways in which the Hall receives help in its efforts to increase the college's endowment, to purchase or build much needed undergraduate accommodation, and to maintain the standard of tutorial teaching to which the Hall is committed. Every bequest, however modest, helps more than you might think.
Legacies to charities are free of Inheritance Tax. Thus one way of keeping the taxman away from your hard-earned resources is to take care of the family up to that limit and then make residuary bequests to charities. And Teddy Hall is a charity.
We suggest that any legacy or codicil to benefit the Hall should include the following wording:
“I give to the Principal, Fellows and Scholars of St Edmund Hall in the University of Oxford (Registered Charity No. 1137470) ________________ (insert % of estate or amount) for the general endowment of the College. I direct that a receipt of the Principal or other officer of St Edmund Hall for the time being shall be a good and sufficient discharge to my executors.”
The Chancellor recently announced a 10% discount on inheritance tax for those individuals who engage in charitable giving in their Wills. The 10% discount will apply when individuals leave 10% or more of their net estate (that is to say the value of the estate after deducting liabilities, IHT exemptions, reliefs and the nil rate band) to charity. In applicable cases the 40% rate of tax is therefore reduced to 36%. Gifts to charity are already exempt from Inheritance Tax, meaning that the new discount will reduce the IHT payable on other non-exempt gifts. Please consider making or reviewing your Will if you have not already done so.
Information on legacies and planned gifts from the USA. Please contact David Stilesfor further information.
If you have any queries or would like to discuss leaving a legacy for the Hall, please contact: firstname.lastname@example.org T: +44 (0)1865 279041