A campaign to encourage people to leave at least 10 per cent of their wealth to charity in their wills has been launched.
The Legacy10 campaign was launched yesterday. It was founded by Roland Rudd, chairman of the public relations firm RLM Finsbury, and is backed by famous names including the entrepreneur Sir Richard Branson.
Rudd said people had a great incentive to leave at least 10 per cent of their wealth to good causes because of the new inheritance tax measure that will be introduced in April 2012.
The move will reduce the rate of inheritance tax from 40 to 36 per cent for anyone who leaves at least 10 per cent of their estate to charity.
"The goal of Legacy10 is to encourage a change in the way we in the UK regard legacy giving, and make it the norm for people to leave at least 10 per cent of their wealth to good causes," said Rudd.
As well as Branson, Martyn Lewis, chair of the National Council for Voluntary Organisations, and Charles Dunstone, co-founder of Carphone Warehouse, are among those who have given their backing to the campaign by pledging to leave at least 10 per cent of their wealth to good causes.
The campaign will also create ‘pledge ambassadors’ across the business, arts and entertainment, sport and philanthropy sectors to "reach across the charitable sector and help drive an increase in legacy giving".
The first of these is Richard Reed, the co-founder of the company Innocent Drinks, who has called on fellow business leaders to lead by example with their giving.
Rob Cope, director of Remember A Charity, said only a small minority would be affected by the new tax changes, so it was important to remind people that everyone should leave a charitable gift in their will, however modest it might be
"It is worth remembering that if an extra 4 per cent of people left a gift in their will to charity, a further £1bn for good causes would be raised every year," he said.