Abbie Trayler-Smith/Oxfam
I know for sure that my mother’s money has been spent in the most moral way possible”
Nessy, Oxfam supporter
Information for Executors
We hope it brings you some comfort knowing that, by remembering Oxfam in their Will, your loved one’s values live on. Their kindness will continue to create positive change – and that’s something to be really proud of.
Above all, their gift will support people who are lifting themselves out of poverty – helping us all to build a fairer world.
Things to think about
Inheritance tax
To find out if this is payable, check the current threshold for Inheritance Tax on the Government’s website.
If the estate you’re administering is worth more than the threshold, you’ll need to ensure charitable relief is claimed from the Capital Taxes Office. More guidance on how to do this can be found on the Government’s website.
If your loved one’s estate is complex for tax purposes, we would always recommend that you seek independent legal advice.
If you are struggling with tax related issues when executing a Gift to Oxfam, please contact citizens advice and they’ll be able to help you.
Capital gains tax
Capital Gains Tax must be paid if the value of an asset, for example shares, has risen since the date of your loved one’s death.
Charities are exempt from this tax, however. This means you’ll need to sign a Memorandum of Appropriation, which says you’re selling the donated asset (or the part which has been left to Oxfam) on our behalf. For more guidance on capital gains tax when executing a charitable gift, you can visit the Government’s website.
If your loved one’s estate is complex for tax purposes, we would always recommend that you seek independent legal advice.
Income tax
Income tax is still payable on the administration of the estate. Charities can, however, recover some of this.
In order for us to do this, please send us a completed HMRC form. This is available on the Government’s website, or from us.
If your loved one’s estate is complex for tax purposes, we would always recommend that you seek independent legal advice
Property
If there’s property in the estate, we’d really appreciate a copy of the estate agent’s valuation.
We normally ask that two valuations be done to make sure the property is being marketed at the right price. Once this has been completed, please send the valuations to executorsandwills@oxfam.org.uk.
Paying a Pecuniary Gift
For a pecuniary gift (a fixed, payable amount such as £5000), Oxfam only needs to know the name of the supporter who has left the gift.
All our Will administration is dealt with at our Head Office. When you are ready to do so, please send the gift and any correspondence to the Oxfam Legacy Department.
If you’d prefer to send the gift by bank transfer, please contact our gift in Wills advisors at executorsandwills@oxfam.org.uk, so that we can track the safe receipt of the gift into Oxfam’s account.
Sending documents to Oxfam
As executor of a residuary gift, we’ll need some important information from you to make sure we’re complying with charity law.
Please send us:
- A copy of the Will, including any codicils
- A brief summary of the assets and liabilities in the estate
- A copy of the valuations for any property
- A valuation of stocks and shares in the estate
- When the estate is finalised, a copy of the estate accounts
What address should I post documents to?
Our address is:
Oxfam GB
Oxfam House
John Smith Drive
Oxford
OX4 2JY
Our registered charity number in England and Wales is (no 202918) and in Scotland is (SC039042).
Nessy’s Oxfam Legacy
When Nessy’s mum left a gift in her Will to Oxfam it was no surprise to Nessy. She didn’t even query that it was the right choice. Her mother stayed true to her principles and for their family it was as a powerful celebration of her life.
Executing a Will
Who should I appoint as an executor?
You can have up to four executors to deal with your wishes. These could be friends, family, or a professional such as your solicitor. Beneficiaries of your Will can also be executors.
Whoever you choose, make sure you ask their permission.
I’m an executor – what should I do?
If you’re acting as executor for someone who has left a gift to Oxfam in their Will, we can help. Please call us on 0300 200 1331 or email executorsandwills@oxfam.org.uk
Can Oxfam be my executor?
If you remember Oxfam in your Will, we may be able to act as your executor. What people usually do, however, when they are unable to find executors, is to appoint a solicitor. Oxfam’s in-house capacity to execute Wills is limited so we advise that you appoint a solicitor to administer your Will.
If this is not possible, however, Oxfam may be able to act as your executor. But we have to ask you to leave us at least £5000 in your Will to cover the cost of staff time, qualified legal advice and completion of the probate process. Our executorship is also dependent on your personal circumstances because we’re not always able to cover the cost of administering complex estates. If you’re thinking about appointing Oxfam as your executor, please email executorsandwills@oxfam.org.uk
Useful links
If you need more information, visit:
Any other questions?
Simply email our Gift in Wills Specialist Rosie Blake at executorsandwills@oxfam.org.uk and she will promptly respond to your query.