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Why would you want to give to charity?

Gateley Legal

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There is a very old saying that ‘charity begins at home’, credited to John Wyclif in 1382 in Of Prelates and for the first time in print in Thomas Browne’s Religion Medici 1642.

However, donations today go to worldwide causes and to UK based charities that have an overseas focus.

Choosing a charity to give money to is a very personal choice and making sure that it is a properly registered charity that is able to fulfil its objects is hugely important.

The children in need appeal is an annual event in the UK and at its height in 2017 raised £60.8 million pounds, showing what is possible. The number of charities in the UK has increased steadily from 160515 in 2009 to 169779 in 2021. Obviously not all are of the size of the children in need organisation.

Giving obviously lends to the feel-good factor.

If you wish to leave a legacy of some sort, then funds to a charity or setting up a charity can facilitate this.

Leaving a donation to charity in your will can continue your generosity past death and roughly speaking 10% of your estate left to charity can reduce the level of inheritance tax payable on the remainder of your taxable estate (it is not quite as straight forward as 10% but is a rough indication).

A donation during lifetime or in a will also ensures that your choice of beneficiaries remains your choice and you retain control over who you support.

Donating to charity and having a clear CSR policy can attract employees. The younger generations have a different attitude to what they look for when seeking out a good employer. It can also assist in attracting investors and diversifying your client base.

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