Wealthy urged to leave more to good causes
Margareta Pagano is a former business editor of the Independent on Sunday who now writes columns and business interviews for a range of publications, including the Independent, Independent on Sunday and London Evening Standard.
Sunday 30 October 2011
Chancellor George Osborne will be the keynote speaker at the launch this week of a new campaign, Legacy10, to encourage individuals to leave more of their wealth for charitable and cultural causes.
The new campaign follows the tax change in this year's Budget, which will take effect next April, allowing any estate that leaves at least 10 per cent to a charitable or cultural cause to take advantage of a cut in inheritance tax from the current level of 40 per cent down to 36 per cent. Chaired by Roland Rudd, head of the Finsbury PR company, the Legacy10 launch will be attended by Jeremy Hunt, the Culture, Media and Sport Secretary, who is also supporting the campaign to encourage the wealthy to leave 10 per cent of their wealth to good causes.
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