Borough Insight

Leave a legacy to Epsom and Ewell

This information which has been submitted by the Epsom & Ewell Community Fund (www.cfsurrey.org.uk Registered Charity No. 1111600). The fund is not associated with the borough council.

As a resident of Epsom and Ewell, you may well have been committed to the borough for many years and would like that commitment to continue in some way even when you pass away.

community fundAlthough some people have a clear idea which charities they wish to support through their Will, others may want to give back to their local community, but
are unsure exactly which charities to support. There may be a concern as to whether a smaller local charity will still be operating in years to come.
Some may have considered giving a larger sum and so considered setting up a charitable trust. For the amount they are planning to give, this option may
not be the most cost-effective method of giving and can be relatively complicated.

This is where the Epsom & Ewell Community Fund can help. It is a local Fund under the umbrella of the Community Foundation for Surrey - a charitable trust dedicated to enabling local people in Surrey to help local people in need.

Donations are typically invested through an endowment fund and the income distributed each year as grants to local causes, meaning that the gift has a
long-term impact on the community. A panel of local residents decide on applications for grants received from local borough based organisations.

The benefits of legacy giving charitable legacies provide a vital and significant source of donations and can reduce the inheritance tax due from your estate.

Inheritance tax is charged at a rate of 40% on the value of your estate exceeding the current threshold of £325,000. All money left to a charity is immediately free of inheritance tax, as well as reducing the taxable portion of your estate. In addition, if at least 10% of the taxable value of your estate is left to charity, the inheritance tax on the remainder of your estate is automatically reduced from 40% to 36%.

You can leave gifts of shares, property or investments, as well as monetary donations.

You should consult a solicitor for advice to ensure that your family, friends and the causes you believe in are provided for in the way you wish. If you
already have a Will, the simplest way to make minor changes or additions is through a Codicil. This is an instruction that your solicitor will help you
draw up to be kept with your existing Will.

Simply by naming the Epsom & Ewell Community Fund - a Fund within the Community Foundation for Surrey (registered charity no 1111600), as the beneficiary in a Will means that we have the flexibility to support a wide variety of important local causes and respond to changing needs over time. We guarantee to use the donation in the best and most effective way to improve lives across the borough of Epsom & Ewell.

If you are the beneficiary of a Will, tax relief can also be granted by using a Deed of Variation. With the consent of the beneficiaries, a Deed of Variation can be executed within two years of a death to change a Will. This would allow you to make or increase a gift to the Epsom & Ewell Community Fund, possibly resulting in significant tax savings. The Foundation does not need to have been named in the original Will for you to do this.

Please note that this is in no way intended to offer advice on your estate planning and not all reliefs or benefits to which we refer may apply to you. Tax can be a complicated area and we strongly suggest you seek independent professional advice before taking any action. All figures and tax rates are correct at the time of writing but please be aware that these may be subject to change - October 2017.

The Community Foundation for Surrey provides a flexible range of options for people interested in leaving a long-term legacy for their local community.

For further information please contact the
Community Foundation for Surrey
01483 478092
www.cfsurrey.org.uk

foundation

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