The following includes general information about making a bequest, and is intended to help you and your solicitor should you decide to include the University of Cambridge when you make or update your will.
The Cambridge Foundation, set up by the University to seek philanthropic funding, has charitable status for all UK tax purposes (Inland Revenue reference XN81946), and is exempt under section 505 of the Income and Corporation Taxes Act 1988.
Bequests for the Benefit of the University
Such bequests should be made to The Cambridge Foundation. All gifts and legacies to the Foundation are free from Inheritance or Capital Gains Taxes under present legislation.
Bequests may be in the form of money, property or other valuables. In the case of money gifts, it is possible to build in some protection against inflation, to ensure that your original intentions will be met. Please find below some sample forms of wording for bequests to Cambridge, which your solicitor may find helpful. These are suggested wordings and should be checked with your solicitor when making or updating your will.
Sample Wording for a Residuary Bequest:
"Subject to the payment of my debts, funeral and testamentary expenses, I give free of tax the whole of my estate not otherwise disposed of by this my will (alternatively, x per cent (x%)) of my residuary estate to the Trustees for the time being of The Cambridge Foundation to support: teaching and research in the University of Cambridge, Department of Materials Science and Metallurgy."
Sample Wording for a Pecuniary or Fixed-Sum Bequest:
"I give free of tax to the Trustees for the time being of The Cambridge Foundation the sum of £___________ (preferably inflation linked to the Retail Price Index) from the date of this my will to support teaching and research in the University of Cambridge, Department of Materials Science and Metallurgy and declare that the receipt of their Treasurer shall be full and sufficient discharge."
Telling Us Your Intentions
Should you decide to include a legacy to the University of Cambridge in your will, please accept our heartfelt thanks. We would be grateful if you would fill out the form below to tell us of your intentions, and how you wish us to keep in touch with you in the future. The form is in PDF format which you can download and then post back to us.
By filling out this form, you are not entering into any binding commitment, and naturally, any information you give us will be treated with the utmost confidentiality.
To download the form, click here.