How David Price boosted his Personal Fund through legacy giving
David Price, on a visit to The Suit Works in Sheffield, explains why he set up The David Fund
I have spent my life time living and working in South Yorkshire, establishing my business Price Express Transport Limited in 1979. From modest beginnings, operating from my parent’s home, I grew the business into a successful logistics company operating in a niche market across the UK
After selling Price Transport in 2015 I wanted to make a charitable contribution to the region. South Yorkshire’s Community Foundation have enabled me to do just that. Through establishing ‘The David Price Charitable Fund’, matched £1 for £1 from their Endowment Match Challenge, I can support local charities that meet my particular interests of helping young people back into work, education or training or projects that reduce social isolation for older people.
Additionally, I have also decided to boost my charitable fund by leaving a gift in my will. Such legacy donations reduce the Inheritance Tax on your estate. If 10% or more is left to charity then 100% of that money goes to the charity or charities of your choice and the remainder of your estate is taxed at 36% instead of 40%. This was a significant factor in my decision and it now means that my contribution to the region continues long after my lifetime