Your Moment. Your Legacy. Your Shul.
This is your moment to hold hands across the generations. This is your moment to ensure a Jewish future that is spiritual and meaningful. This is your moment to leave a Jewish legacy.
Solihull Shul has been at the forefront of building the Jewish community in Solihull. Today we operate a Shul and Community Centre with a wide variety of religious, cultural and educational activities for all ages.
Now it is your turn to lead us forward.
Planned Giving builds Judaism where it is needed most, in your local community. From young to old, visiting the sick or comforting the poor, this is your moment to make a difference. Join with us through the loving act of planned giving by leading your community to a strong and vibrant future. This is your Moment.
More about the tax benefits of leaving a Legacy to charity
Charity Legacies are exempt from tax and there is no upper limit on the value of the Legacy you leave. Legacies are therefore a very efficient way of supporting your favourite Jewish charities because the Government is encouraging your generosity by adding funds from central funds.
You may leave as much as you like, entirely tax-free to a spouse, civil partner or UK registered charity. You may also leave up to £325,000 to any other beneficiary or beneficiaries. Over and above that, Inheritance Tax (IHT) is then applicable on the remainder of your Estate at flat rate of 40%. However, if you leave a Legacy to charity, that Legacy is deducted from your Estate before it is taxed, thereby lowering the amount of IHT that will be payable. In addition, as from April 2012, if you leave 10% or more of your taxable estate to charity not only will the Legacy be deducted before tax is calculated, the tax rate will be reduced from 40% to 36%. This is the Government’s way of encouraging more of us to give to charity and for us also to increase existing charity Legacies to the crucial 10% level; they want to make giving 10% of one’s Estate to charity “the new norm in our country”.
This might not seem much of a reduction, but the combination of the charity exemption from IHT and the new relief
means that a charity Legacy could now ‘cost’ your family just 24% of its value, compared to 60% previously. £7,600 out of a £10,000 Legacy to charity could now be funded by the Government. This means that the cost to your loved ones of a £10,000 Legacy could be as little as £2,400, making charitable Legacies considerably more affordable, as well as of significant benefit to the causes that are close to your heart. This reduced tax rate will help to encourage more members of the Jewish community to leave Legacy gifts to charity, and for those who have already done so, to consider increasing those Legacies, potentially at no additional cost to their family – a real ‘win-win’ situation.
Allow us to work with you, your family, and if desired your financial advisor, to develop the
most personalised strategy for your goals. For more information contact us.
Solihull Hebrew Congregation Legacies
3 Monastery Drive, Solihull, B91 1DW