Leaving a legacy

In his March 2011 budget speech, Chancellor George Osborne announced that from April 2012 UK taxpayers who leave more than 10 per cent of their estate to charity will see their inheritance tax rate reduced by 10 per cent, from 40 per cent to 36 per cent.  For UK taxpayers there has never been a better time to consider leaving a charitable legacy to the Academy of Ancient Music.

Over the last four decades the AAM has brought inspiration and joy to millions of people. Our aim over the next is to begin to build up an endowment fund which will enable the orchestra to do so in perpetuity.

Leaving a legacy is one of the most important and enduring ways in which you can support the AAM. Whether you give £5,000 or £5 million, your bequest will have a real impact in enabling the AAM to keep the music of the baroque and classical periods alive, and to enrich the lives of music lovers for generations to come.

The AAM’s charitable status means that gifts are exempt from inheritance tax, and those who leave more than 10 per cent of their estate to charity will see their inheritance tax rate reduced from 40 per cent to 36 per cent.

Gifts to the AAM can be a specified sum of money or a proportion of your residuary estate. Many people choose to leave some or all of their residuary estate to charity; once you have made provision for family and friends, the residue provides an excellent opportunity to give significant support to the charities which matter most to you.

Should you find yourself a beneficiary under a will, you may also wish to consider transferring part of your inheritance to the AAM using a deed of variation. Amounts transferred in this manner become freed of any inheritance tax otherwise due, affording the opportunity for the AAM to benefit from your generosity during your lifetime.

For more information

The Head of External Relations, Simon Fairclough, is always happy to talk informally and without obligation with anyone considering making provision for the AAM in such a manner. Please feel free to contact him on 44 (0)1223 341096 or s.fairclough@aam.co.uk, with the assurance that we understand the highly personal nature of such an enquiry and that it will be treated in the strictest confidence.