Theatre Royal Legacy Leaflet

A Revenue Endowment Fund…

Thank you for taking a moment to look at this information. I hope you will find it helpful, and don’t hesitate to get in touch with us to learn more.

Interior of Thea e Royal Bury St Edmutrnd s

The Theatre Royal is the last surviving Regency theatre in the country, the only theatre in the National Trust’s portfolio, and a much loved local playhouse. In recent history (1964 and 2007) the building has been lovingly restored – first into active use for the people of Bury St Edmunds after years as a barrel store for Greene King Brewery, and most recently to celebrate the Georgian heritage of the auditorium and to create modern public facilities for a contemporary audience. In both cases the theatre benefitted from the generosity of individuals and organisations from across the nation to fund the capital costs.

I echo Michael Billington’s words in The Guardian, written at our re-opening: “Is there a more beautiful theatre in Britain…I doubt it” The theatre is run by a charitable trust reliant on raising around 80% of its income through ticket sales, bar sales and fundraising. The balance comes from grant support from local authorities and Arts Council England. In a good year the theatre turns over £1.7m and retains a surplus above expenditure of £5-£10k…you’ll agree, I’m sure, that is a tiny margin to rely on.

The challenge for the future is to build reserves to allow more work to be created, to ensure the theatre is maintained and improved, and to support trading in a problem year.

We ask you to consider helping to safeguard our future.

If you are able to support us either through a one-off gift or through including us in your will, then you will be helping safeguard the future of this historic and vibrant Regency theatre for the people of Bury St Edmunds, the nation and our many international visitors.

Thank you for considering us in your financial planning.

We are most grateful for your consideration.

Colin Blumenau, Artistic Director

Remembering the Theatre Royal with a gift in your will

When interest rates recover then we will seek to use interest generated from the fund for one off projects in the year and to help with ongoing revenue needs – but only the interest.

Please join the 1819 Society We are creating a society of close friends who have each chosen to support the theatre through their wills. Although we will show our immense thanks when any legacy comes to us, we thought you might prefer to get a little bit of extra enjoyment now.

Each year we will invite you to a performance or event to celebrate the theatre, and have a party. We will update you on the revenue endowment fund, what we have achieved in the year, as well as paying tribute to any new legacies from close friends.

If you wish to remain anonymous throughout, then your wishes will be completely respected, but if you’d like an annual celebration of the future of your theatre – then we will invite you to the next 1819 Society party.

Opened 1819

“There are two certainties in life: death and taxes”. benjamin franklin

Whilst there’s not yet a medical prevention for the former, we can do something about the later – at least when it relates to inheritance tax. This leaflet offers some information.

Please ensure you take your own independent legal advice on everything.

For more infromation please contact Development Department, Theatre Royal, Westgate Street, Bury St Edmunds, Suffolk IP33 1QR Tel: 01284 829956 E-mail: development@theatreroyal.org www.theatreroyal.org

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Helping to safeguard our future

The Theatre is establishing a reserved revenue endowment fund which will be used to support three areas of operation: a) The creation of drama productions, including work from the Georgian period as part of the Restoring the Repertoire™ programme, which can play at the Theatre Royal, travel on tour and transfer to other theatres. A careful use of the endowment fund will support some of these productions, and profits from transfers and tours will be used to replenish the fund.

Friends meet at b) To make strategic investments in the building and its activities Greene Room bathe which could provide enhanced earning potential for the theatre r - things that seem to make good business sense and again return any investment back to the fund. c) And a fund against which we can borrow, if necessary, to support cash-flow through the year or to fund shortfalls when needed. We would not use the endowment fund directly to pay off overdrafts or shortfalls. It would be too easy for the fund to diminish.

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Why make a will ?

Your will gives legal recognition of your own wishes with regard to the distribution of your assets upon your death. It enables you to consider the best long-term interests of your family and close friends. It can also give recognition to any wishes which Bury St Edmunds’ Cathedral, you may have to enable continued the finest in East Anglia... support to recognised charities, or new support to those that you may not have had the means to support in life. If you die “intestate”, that is without making a will, then complications and family friction may arise regarding the distribution of your estate.

We are advised that 60% of people die without a will. This causes unnecessary heartache to those who remain. With a will you can make sensible provisions to reduce or in some cases completely avoid inheritance tax. Inheritance tax used to be the concern of the “super rich” only. However, substantial rises in house prices in the last few years have meant that the tax threshold of £325,000 (current rate frozen to 2014 in the March 2010 budget) can easily be crossed. 40% in every pound above the limit is payable in inheritance tax. Few people relish the prospect of the public purse enjoying two-fifths of their estate above the threshold.

You can include the Theatre Royal in your will by directing your gift to the Theatre Royal Bury St Edmunds, registered charity number 242977 Making a will to include the Theatre Royal need not be complicated or expensive. You should seek your own professional advice.

You may also find the guide produced by the Law Society helpful. It can be found at the following web address: www.lawsociety.org.uk If you do not have internet access just contact us on 01284 829956 and the Development Department will be happy to send you a copy.

If you have any further requests or questions then please contact us by telephone 01284 829956, by email to development@theatreroyal.org , or by letter, Development Department, Theatre Royal, Westgate Street, Bury St Edmunds, Suffolk IP33 1QR. We would be delighted to talk through anything by meeting you at the Theatre.

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How to include the Theatre Royal Bury St Edmunds in your will

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Please remember that this brochure is not intended to constitute legal advice and, when making your will, you should do so in consultation with your independent professional adviser.

Leaving a gift for the Theatre Royal Bury St Edmunds If you choose to leave a gift for the theatre then the Theatre Royal will use the gift where it is needed most. It is hoped that some or all of the gift will go into the revenue endowment fund to build a reserve for the future. Below is a suggested wording which your professional advisor can use:

St “I give to the Theatre Royal Bury St Edmunds, Westgate Street, Bury red iste Edmunds, Suffolk IP33 1QR, Reg lied Charity Number 242977, to be app re eat for the general fund of the Th ect Royal Bury St Edmunds and I dir for cer that the receipt of a proper offi the time being of the Theatre Royal te Bury St Edmunds shall be a comple discharge to my executors”.

Many people choose not to leave a stated sum of money to charity, but rather to leave a share of the residue of their estate. In this case your professional advisor may find the following wording helpful:

“I give all/a share of (please state fraction/percentage) the residue of my estate absolutely to the Theatre Ro yal Bury St Edmunds, Westgate Street , Bury St Edmunds, Suffolk IP33 1Q R, Registered Charity Number 242977 , to be applied for the general fund of the Theatre Royal Bury St Edmunds and I direct that the receipt of a proper officer for the time being of the Theatre Royal Bury St Edmunds shall be a comple te discharge to my executors”.

Please let us know…

If you have decided to include the Theatre Royal Bury St Edmunds in your will, it would help us greatly if you could let us know. It will also ensure that we do not send you unwanted mailings. Your reply will be treated in the strictest confidence, and it is entirely up to you whether you wish to provide details about your gift.

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Leaving a gift for a specific purpose or aspect of the Theatre Royal’s work One of the easiest ways to let us know how you would like the Theatre Royal to apply a gift in your will is to include a letter with your will expressing your wishes. However, even if you are considering a donation for a specific area, it would be most helpful if the clause in your will allows the Theatre Royal to use your donation “for the general fund of the Theatre Royal Bury St Edmunds” in the event that the specific need no longer exists at the time we receive your gift.

We suggest that you speak with us before finalising any specific wish for the use of a gift, so that we can be sure we are clear in your wishes, and then we will follow your direction provided that is possible.

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Interior of Thea e Royal Bury St Edmutrnd s

The tax implications of making a donation in your will As the Theatre Royal is a UK registered charity the gift in your will would be exempt from inheritance tax. The value of the gift will be deducted from your estate (your money, possessions and property) before inheritance tax is worked out and if your estate is liable to pay inheritance tax you could reduce the amount due by up to 40% of the value of the gift.

You can either leave a fixed sum (known as a ‘Pecuniary Legacy’), or part or all of your estate once other gifts have been distributed (known as a ‘Residuary Legacy’). There are further tax implications of leaving a ‘Residuary Legacy’ to a mixture of charitable and non-charitable beneficiaries.

You may also be able to obtain income tax relief if you make certain gifts of income, shares or land to the Theatre Royal during your lifetime.

You should consult a professional adviser for specific advice on how any of the reliefs will apply in your personal circumstances.

Thank you

Surname:......................................................................................................................................

Address:........................................................................................................................................ .......................................................................................................................................................... ..........................................................................................................................................................

Postcode:......................................................................................................................................

Please tick whichever boxes you feel appropriate: I have left a donation towards the Theatre Royal’s work in my will.

I intend to leave a donation towards the Theatre Royal’s work in my will. The current value of my gift is:

£ (please feel comfortable to leave this blank) I would like to learn more about the 1819 Society and to be a member I would like to speak with a member of the Theatre Royal staff. My telephone number is: Preferred times Morn / Aft / Eve / Weekend I am happy to be contacted by email.

My email address is:

I would like to be invited to any legacy recognition and stewardship events you plan Please don’t contact me about including the Theatre Royal in my will.

Thank you.

Data Protection Clause Under the Data Protection Act (1998) the Theatre Royal cannot retain your name, address and other information about you without your informed consent. When booking tickets with us for the first time, please be prepared to respond to two statements. You need to give a positive response to statement 1 for us to keep in touch with you in the future.

1 The Theatre Royal Bury St Edmunds may retain personal data about me for the purposes of sending me information about arts opportunities.

2 I further consent to the Theatre Royal Bury St Edmunds exchanging this data with other groups offering arts opportunities.