gifts to charities in legacies are exempt from inheritance tax, which is levied at 40% on assets exceeding £285,000.  our legacy brochure gives more information on the types of legacy that can be set up, as does the pdf "types of legacy" downloadable here. if you are thinking of leaving a legacy to magdalene, we advise that you consult with your solicitor directly, though a legally-recognised codicil can be downloaded below and added to the current version of a will.

an individual beneficiary of a deceased’s estate will normally only receive benefit after 40% of tax has been deducted. the recipient individual could, however, consider executing a deed of variation of the deceased's will to redirect a proportion of his or her inheritance to magdalene. the assets diverted to the college would in turn be increased by the refund of the 40% inheritance tax. in order for this tax saving to be made, deeds of variation must be executed within two years of the deceased's death. further details can be found below.

downloadable legacy-related pdfs:

legacy brochure
types of legacy
legacy forms: legacy pledge
legacy forms: codicil
legacy firm: solicitors instruction
us estate planning information

inland revenue guidelines on inheritance tax can be found here