Philanthropy
Scotland has a long and proud history of philanthropy and we can work with you (and your other advisors) to create a strategy that will maximise the impact of any charitable giving. We can provide you with advice relating to Lifetime giving and legacies, Inheritance tax, and conditional exemptions.
Lifetime giving and legacies
Lifetime giving allows you to donate to chosen causes during your lifetime and importantly, you can provide guidance about donations and witness the outcome of your generosity. This could be in the form of a cash gift, by transferring assets to an existing charity or good cause or perhaps setting up your own charity. Our experienced team will meet with you to discuss your objectives and assess the best way to achieve them. We can also advise on the tax allowances and benefits of making charitable gifts during your lifetime and our tax return service can help with the paperwork.
You may wish to leave a fixed amount or a proportion of your estate and leaving a legacy to a charity in your will can be a great way of helping a cause that’s important to you.
Inheritance tax
There are tax efficiencies associated with leaving money or assets to charity on your death, with no Inheritance Tax due on any part of an estate going to a UK registered charity. Our experienced tax team can advise on the best approach for your circumstances.
For certain assets such as heritage property, works of art and historic artefacts it may be possible to become exempt from paying inheritance or capital gains tax under the Conditional Exemption Scheme. This Scheme exists to protect remarkable or historic items from being sold off privately. We can help with applications for conditional exemptions, negotiating with HMRC and dealing with future transfers of the asset.
Key contacts
Our experienced team can provide advice and support with your charitable giving. Get in touch to find out how we can help you.
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