Saturday, 4 Feb 2012
INVESTING IN THE FUTURE
In 1624 the School began its life in West London as a result of Edward Latymer’s visionary gift.
Today the School prides itself in being one of the most foremost, independent, co-educational day-schools in the country. More than 1,300 pupils enjoy superlative teaching, achieving extremely high standards both in academic and extra curricular areas. The School endeavours to provide facilities and resources that enhance the teaching and match the needs of its 21st century pupils. Above all Latymer strives to uphold its belief that that its pupils should continue to come from diverse backgrounds.
This is the essence of Latymer and to preserve this proud tradition Latymer needs to provide free places. Fee income provides for the day to day running of the School. Beyond this Latymer continues to benefit from the generosity of a committed network of alumni, current and former parents and staff and friends.
Currently 81 children attend Latymer on means tested scholarships worth more than 75% of fees.
There are several of ways of supporting us; leaving a gift in your will is one of those ways.
Whether yours is a new or an existing will, leaving a gift to the Latymer Foundation is an easy thing to do and it can offer positive tax implications for your heirs. As a registered charity, a bequest to the Latymer Foundation is free of inheritance tax* so your gift will reduce the amount of your estate liable for tax. From the 6th April 2012, estates that include charitable legacies of at least 10% of the net estate will benefit from a 36% rate of IHT (compared with the main rate of 40%).
If you are a beneficiary of a bequest you can transfer all or part of the bequest to the Foundation under a Deed of Variation. Not only will Latymer benefit from your gift during your lifetime but the gift itself will be transferred free of Inheritance Tax.
There are different types of bequests all of which will make a real difference to the ongoing vitality of the School. Please click here to see which will make the best financial sense for you.
*Inheritance Tax: The 40% tax payable on the proportion of your estate that is over the nil rate band threshold. This threshold varies every tax year. Further details on the HMRC website http://www.hmrc.gov.uk/cto/iht.htm
The 1624 Society is named after Edward Latymer's visionary bequest of 1624 that created Latymer Upper School. The President of the Society is Professor Richard Perham (1955) who was, until recently, Chair of Governors of the Latymer Foundation. The Society is made up of Latymerians, current and former staff and parents who have informed the School of their legacy intentions. Their pledge is recognised in the Annual Report of Giving and they and their partners are invited to an annual event at the School in the summer term.