Frequently asked questions
Frequently Asked Questions
Where will my money go?
Your money could be used for a range of projects, including student scholarships and bursaries, supporting world-class research and restoring the campus or residences.
Can I choose where to direct my gift?
If you would like to direct your gift to a particular area of the College we will be equally committed to accommodating your wishes.
Does leaving money to Imperial College in my Will have tax implications?
Including Imperial in your Will is one of the most tax-efficient ways of supporting the College. After providing for your family and friends, your estate may be subject to inheritance tax. It may therefore be advantageous to distribute your estate so that your family and friends are left gifts below the tax threshold (currently £325,000 until 5 April 2015) and therefore not subject to inheritance tax.
From April 2012, a new law has been introduced to help reduce the inheritance tax bill for those who give to charity. If your estate is worth over £325,000, and you leave 10% to a charity, tax may be paid at a reduced rate of 36% instead of 40%.
Does Imperial have charitable status?
Yes, Imperial College London has charitable status for all UK tax purposes (HM Revenue and Customs number X2361). The College is an exempt charity under the laws of England and Wales by virtue of the Exempt Charities Order 1962 and the Third Schedule to the Charities Act 2011. Its activities include the promotion of scholarship, education and research in science, engineering and medicine especially in their application to industry. In accordance with the Charities Act 2011 HEFCE is the responsible body for regulating universities as charities on behalf of the Charity Commission. This means that we enjoy all the privileges of charitable status, including exemption from income tax, corporation tax and capital gains tax but we are not required to be registered with the Charity Commission. This also means that any legacy that you leave to Imperial will be free from inheritance tax and capital gains tax.
How do I leave a legacy to Imperial College London?
Your intention to leave a legacy to the College will need to be written into your Will. You can do this by writing a new Will or by adding a codicil to your current Will. We recommend that you seek professional advice when writing or changing your Will.
What is the College's legal name?
The College’s legal name is ‘The Imperial College of Science, Technology and Medicine’. The words ‘Imperial College of Science, Technology and Medicine’, ‘Imperial College London’ and ‘Imperial College’ are registered trade-marks. The College’s preferred brand identity is ‘Imperial College London’.
Do you have any recommended wording for including a gift in my Will?
Your solicitor may use the following wording as a guideline for including Imperial in your Will:
“I give, to the Imperial College of Science, Technology and Medicine of Exhibition Road, South Kensington, London SW7 2AZ, [insert a fixed amount] or [insert specified percentage/allof my residuary estate] to be applied to the [insert general purposes/preferred area] of the said College and I declare that the receipt of the Director of Finance or other duly authorised officer of the College shall be good and sufficient discharge to my Executors.”
Can I add Imperial to my existing Will?
You can do this by adding a codicil to your existing Will. A codicil can be used in the case of minor changes; it is a supplement to your existing Will. It is essential that you speak to your solicitor about introducing a codicil to your Will.
Should I inform the College if I make the decision to include Imperial in my Will?
By making us aware of your intentions, you can help us plan for the future of the College and its future generations of students. Informing the Development Division of your decision will also enable us to put you in touch with any relevant people at the College, answer your specific questions and also to thank you and acknowledge your generosity during your lifetime.
Who can I contact to discuss legacies further?
Please contact Anna Wall on +44 (0)20 7594 3081, email email@example.com or write to Anna Wall, Head of Legacy Giving, Imperial College London, SALC Mezzanine, Level 5 Sherfield Building, South Kensington Campus, London SW7 2AZ. We would be delighted to discuss your options with you; however, we do recommend you seek professional advice if you do decide to leave a gift in your Will to Imperial College.