S5 Ep4: How to Give? – Part 2

Simon and Bex delve further into the practicalities of Giving, focusing on three further ways in which charitable giving can be made more tax efficient.

Some key points of interest covered in this episode include the following:

• After a quick recap on Gift Aid [00:50], Simon introduces the three main topics that will be covered in this episode: Give as you Earn/Payroll Giving; Wills and Legacies; Limited Company Donations. [03:15]
• Simon explains how Give as you Earn/Payroll Giving works [03:46] and then, in response to a question from Bex, goes over the pros and cons of using this option as opposed to Gift Aid. [05:02]
• Simon then turns his attention to lifetime giving at the point of death (and even after death), which can be managed through wills and legacies. Apart from providing clarity regarding bequests and charitable donations etc, this approach can be of great benefit in connection with any Inheritance Tax factors that may arise. [14:08] NB Bex points out that listeners may find it useful to listen to the conversation with Fiona Clarke, private client solicitor, in Season 3 Bonus Episode 2 as many helpful points relating to wills and legacies are covered during that discussion.
• Bex asks Simon for his thoughts on balancing lifetime giving with giving solely at the point of death, typically via a will. [20:41]
• Simon outlines the arrangements that pertain for donations made by limited companies. [22:01]
• Bex then asks Simon to comment on the pros and cons of one-off gifts compared with regular giving [24:15] and on how best we can ensure that we are accountable in connection with our giving. [25:26]
• The focus of the next episode in this season will be on ‘Who to give to?’ [28:09]

Suggestions or feedback arising from this episode can be sent via email to whereyourtreasureis@freerangepodcasting.co.uk while messages via Instagram should be directed to @whereyourtreasureispodcast.

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