SOAS University of London

Questions worth asking: the Campaign for SOAS

  • Donate

    #SOASquestions
    Donate

Legacy Giving and Inheritance Tax

What is Inheritance Tax?

Inheritance Tax is tax on money or possessions you leave when you die. It's also sometimes payable on trusts or gifts made during someone's lifetime. Inheritance Tax may be payable on an estate which exceeds the current threshold (£325,000 until 2017), although no tax is payable on gifts to SOAS as it is tax exempt.

Please see inheritance tax on the government website for more information.

As tax is a complex area of law, we recommend you speak to an independent financial advisor or solicitor about the Inheritance Tax implication for your estate - especially if you intend to leave substantial sums. A properly drafted Will can help reduce the amount of tax payable, and increase the amount of your assets that go to your loved ones and chosen organisations.

Types of gifts in Wills

Residuary gift

The remainder of the estate once other gifts and payments have been made. Many people choose to leave this type of gift as it allows them to make sure that their family and friends are well looked after first and keeps pace with inflation.

Pecuniary gift

A fixed sum of money. The value of a pecuniary gift could decrease over time, as cost of living increases.

Specific gift:

A named item, for example a piece of jewellery or property.

Wording in your Will

Please use this wording to ensure your gift is valid:

To leave a residuary gift, we suggest:

'I give ______% of my residuary estate to SOAS, University of London, otherwise known as School or Oriental and African Studies (company number RC0000541) Thornhaugh Street, Russell Square, London WC1H 0XG to be applied for its general purposes and I declare that the receipt of the Principal or other proper officer of SOAS shall be a complete discharge to my trustees'

To leave a pecuniary gift (cash sum), we suggest:

'I give £______to SOAS, University of London, otherwise known as School or Oriental and African Studies (company number RC0000541) Thornhaugh Street, Russell Square, London WC1H 0XG to be applied for its general purposes and I declare that the receipt of the Principal or other proper officer of SOAS shall be a complete discharge to my trustees'

To learn more about making a Will or amending your current one to include SOAS, please contact our Legacy Officer on +44 (0)20 7898 4041, or email legacies@soas.ac.uk

Registered with Fundraising Regulator