Charitable will gifts from affluent people is rising
The amount of affluent people giving £1 million+ to charitable causes has gone up by almost a third since 2017/18, according to HM Revenue and Customs statisitics.
HM Revenue and Customs stated that those people, known as high net worth (HNW) individuals, who had gave legacies to variouss charities, amounting to over £1m had in fact increased by 31%.
The number of transfers to charities on death worth over a million had increased to 3,043 from 2,328 the previous year.
This will be longed-for news to the charity sector, especially as they have been hit hard due to the coronavirus pandemic – as there is currently approximately a £10.1 billion funding shortfall within the sector due to COVID-19.
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