Sidney Sussex was founded thanks to a bequest from Lady Frances Sidney, Countess of Sussex, in 1596. Following in her footsteps and leaving a legacy to Sidney, after your loved ones have been taken care of, is an easy way to make a meaningful contribution to the next generation of students without compromising your current finances.
If you are planning to remember Sidney in your Will, please do contact us. We would be very happy to discuss the terms of any bequest and to make sure that we fulfil your wishes.
There are three principal ways in which you can make a bequest:
- leave a fixed sum to the College;
- a percentage of your estate;
- or the residue that remains when you have provided for your loved ones
If you are a UK tax-payer, because Sidney is a registered charity, any bequest will be exempt from UK inheritance tax. And if you leave 10% or more of your net estate to charity, the rate of tax payable on the rest is reduced by 10% – from 40% to 36%. Your solicitor will advise you on the best way to record your intentions.
Alumni and friends of Sidney in the USA might find it helpful to know that legacies for the benefit of Sidney Sussex College can be left to the College without any loss of tax efficiency through Cambridge in America.