For over 75 years, London School of Theology has provided people from all over the world with a ground-breaking, life-changing preparation for Christian life and ministry. Our graduates work in ministry in so many forms, transforming lives and bringing hope: many are ministers or pastors; some are teachers or scholars; others are youth workers, artists, charity founders and workers, carers, police officers and even jazz musicians. We recognise that ministry is everywhere – not just in the place of worship.
With the generous support of so many people, we have been able to pioneer exciting new programmes and ways of learning. We want to expand our reach in order that we can prepare Christians to express the message and love of Jesus in the 21st Century.
A gift in your will can help support LST as a whole, a specific area of our teaching, or perhaps a particular aspect of LST life.
If you are considering leaving a gift to LST in your will, our Legacies Team would be delighted to talk to you. We cannot offer legal or financial advice, but we are happy to answer your questions about legacies in general.
Every gift in every Will, however large or small, makes a difference that can last another lifetime.
Legacies and Reducing Inheritance Tax
As a Charity recognised by HMRC, London School of Theology pays no tax on gifts of money during your lifetime or on your death. Gifts to charities are exempt from Inheritance Tax (IHT) in the UK, and the government provides a further incentive: if you leave a minimum of 10% of your estate to charity, inheritance tax on the balance of the remaining estate is reduced from 40% to 36%.
There is no Inheritance Tax to pay on the first £325,000 of your estate. This tax-free allowance can increase if you give away your home to your children (including adopted, foster or stepchildren) or grandchildren and your estate is worth less than £2 million. Unless you leave everything above the tax-free allowance to your spouse, civil partner, a charity or a community amateur sports club, then your executors will have to pay 40% tax on the rest of your estate.
Please do take professional advice. The content of this page is just for informational purposes and is in no way a substitute for the services of a qualified expert.
Here is an example of reducing inheritance tax through a legacy. Making a gift of £100,000 from an estate valued at £1,000,000 reduces your inheritance tax bill by £63,000 and reduces the amount received by beneficiaries by only £37,000:
|No gift to LST||With a gift to LST|
|Value of Estate||£1,000,000||£1,000,000|
|Less tax-free allowance||-£325,000||-£325,000|
|Less Legacy Gift (10% of estate)||£0||-£100,000|
|Amount subject to tax||£675,000||£575,000|
|Tax Paid||(40%) £270,000||(36%) £207,000|
|Amount received by beneficiaries||£730,000||£693,000|
If you would like to explore different ways in which you might support London School of Theology through a Legacy, please contact our Fundraising Manager.
Do take professional legal advice when drawing up your will, or adding a Codicil, to ensure that it is legally sound. Your solicitor would need some basic details about the College, which our team can easily provide for you; these are also included in our Will Planner. All discussions will be in strictest confidence.