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Charitable status, tax benefits and information for donors outside the UK

 January 29, 2018 | Simon Jenkins


The University is an ‘exempt charity’ under Schedule 3 of the Charities Act 2011. The University does not have a registered number issued by the Charities Commission but is in law a charity by Royal Charter, granted in 1904. Our reference number with the charity division of HM Revenue and Customs is X6861.

Our charitable status means that a gift in your Will to the University would be tax-exempt and so could reduce the amount of Inheritance Tax payable if the net value of your estate is above the threshold (currently £325,000).

Nominating the University as a beneficiary of your pension fund could also provide significant tax benefits.

Inheritance Tax is a complex area and it is important that you seek professional advice on the tax implications of leaving all or part of your estate to charity.

United States
If you are subject to US estate tax, a bequest to the North American Foundation of the University of Leeds, an organisation exempt from taxes under Section 501(c)(3) of the Internal Revenue Code, can reduce your estate tax.

Canada
If you are resident in Canada your bequest could reduce the tax payable on your estate. The University of Leeds is a designated institution under Section VIII of Canadian tax laws, which means that donations to the University are tax deductable.

Find out more

Did you know that if you leave 10% or more of your estate to charity any Inheritance Tax due may be paid at a reduced rate of 36% instead of 40%? Find out more.

For more information about Inheritance Tax, visit the HM Revenue & Customs website.

 

 

Charitable status, tax benefits and information for donors outside the UK