Leading article: Legacy 10 - a philanthropic incentive that is long overdue
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The idea that we need incentives to make us less selfish sounds like an oxymoron. But that is the sense at the heart of the new Legacy 10 scheme, which encourages people to make the most of the inheritance tax breaks in the last Budget.
From next year, anyone who leaves at least 10 per cent of their estate to charity will have their inheritance tax reduced from 40 per cent to 36 per cent. In an ideal world, of course, we should all be giving, out of the kindness of our hearts. But in our current, far-from-ideal circumstances, this is a welcome device to encourage the 74 per cent of us who support charities during our lifetime to join the 7 per cent of the population who leave a gift to charity in their will.
We live in an age whose problems demand imaginative solutions. Legacy 10 – which could generate billions for good causes – is one.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments