Legacy FAQs

Commonly asked questions we receive about legacies

How can I find out more information about leaving a legacy to City of London School?

To find out more information about leaving a gift in your will to CLS and to request a copy of our legacy brochure please contact the Development Office at development@cityoflondonschool.org.uk or call 020 3680 6313.

Alternatively, you can view our legacy brochure online here.

Does City of London School have charitable status?

Legacies should be made out to The City of London School Charitable Trust which is a UK registered Charity (Charity Number 1020824). The City of London School Charitable Trust supports the School and the trustees are officers of the School including the Head and the Bursar.

What is City of London School’s full address?

To ensure you properly name City of London School as a beneficiary of your estate, please include the School’s full address when drafting the wording for your will:

City of London School
107 Queen Victoria Street
London EC4V 3AL

What are the different areas that my legacy could support?

There are a number of areas you may wish to direct your legacy to:

Where the need is greatest - Directing your bequest to where the need is greatest will allow the School to use your gift wherever it is most needed when we receive it. This flexibility ensures that your legacy will provide immediate benefit to pupils.
 
Bursaries - City of London School will always seek to provide life changing bursaries to boys regardless of their financial circumstances. We want our community to reflect the multicultural and diverse city in which we reside and continue to widen access and increase the number of fully funded bursaries we can offer.
 
Buildings and Facilities - It is important that our pupils are ready for the challenges of the 21st century and that our buildings and facilities are equipped to meet those needs. Further developments to our teaching facilities, sport and pastoral care are a key focus for the School in the coming years.

If you have any further questions about what area you would like to leave your legacy to please contact development@cityoflondonschool.org.uk

 

What are the different type of legacy gifts?

There are different types of request to consider:

Residuary Legacy - Is the remainder of your estate, or a percentage of the remainder of your estate, after all other bequests have been allocated. Even a small percentage of the residue could havea transformative impact at City of London School.

Pecuniary Legacy - Is a gift of a specific sum of money. To ensure that your gift keeps its value over time you can ask your solicitor to includean instruction that the gift is index linked.

Specific Legacy - Is a specific object or asset (for example stocks and shares,property, life insurance policy or jewellery). If you are intending to leave a specific object to the School, please contact us directly during your lifetime to ensure we are able to meet your wishes.

Reversionary Legacy - Is effectively a postponed gift, it allows a specifically named person/s to benefit from your estate (or part of it) during their lifetime and on their death, your estate (or part of it) passes to the School.

Can I add a gift to the School to my existing will?

If you wish to make an addition to an existing will, you can write a codicil to be kept alongside your will. Please speak to your solicitor/legal advisers to discuss this further.

What information do I need to give to my solicitor?

Most commonly we are asked by solicitors on behalf of their clients for the School’s full name and address, as well as our charity number.

Full name and address:


City of London School
107 Queen Victoria Street
London EC4V 3AL


Charity number: The City of London School Charitable Trust is a UK registered charity number 1020824.

What are the Inheritance Tax benefits of leaving a bequest to City of London School?

City of London School Charitable Trust is a registered charity (charity number 1020824) and accordingly, all legacies made to us are exempt from UK Inheritance and Capital Gains Taxes.

Under current rules (January 2020), if you choose to leave 10% ormore of your chargeable net estate to charity, the inheritance tax rate on the whole of your taxable estate is reduced from 40% to 36%.

Please speak to your advisor or check the HM Revenue & Customs website for further information.

Do I need to let CLS know about my intentions?

We understand that the decision to remember the School in your will is a personal one, and one that you may only wish to share with your nearest and dearest.

However, letting CLS know your thoughts is invaluable because it allows our staff to clearly understand your wishes and ensure that they can be met. It also gives us the opportunity to recognise your decision and thank you in a way in which you are comfortable with. If you prefer to remain anonymous, your wishes will always be respected.

Any information you share with us regarding your will or intentions is strictly private and confidential. 

How do I let CLS know my intentions for my legacy gift?

You can let us know about your intentions in several ways.  You can call, email or send a letter to the Development Team. 

Email: development@cityoflondonschool.org.uk

Phone: 020 3680 6313

Post:

The Development and Alumni Relations Office
City of London School
107 Queen Victoria Street
London EC4V 3AL