Long term Charity donations / compound interest

theviqueen

Goodday,

As my father has passed away I am receiving some inheritance.
I believe in paying 10% forward to charity.

The 10% will be somewhere in the region of 10-20,000 GBP.

Now I would like to see the amount grow annually.

Hence I am contemplating a scheme where I donate 10% of the 10% straight away and
put the rest aside at a fixed rate and every year donate 10% of the surplus
and the rest carried forward till I die so an ever increasing pot for donation,
provided the inflation stays at a reasonable rate.
I do hope my children will carry on the legacy, as they are all kind hearted.

Compound interest basically.

The charities I support are worldwide so not only UK based.

My questions is therefore
What is the most tax efficient way of doing such?

I prefer not to put it in my ISA account as trying to max that out privately per year.

I live in the UK. 

Thank you in advance.

Savvy_Sue

I have no idea of the ins and outs of this, but I know a few people who have access to a Family Trust, which I would say does what you want. However there may be costs attached to this. 

I'm wondering if CAF offers anything which would help? You can certainly have an account which you fund, and then give to charities from that pot.