Giving Back to Norfolk Together

As an accountant, I spend much of my time talking to clients about tax, estates and numbers. But sometimes those conversations open the door to something truly inspiring. Recently, I had the privilege of helping one of my long-standing clients give back to Norfolk with help from the Norfolk Community Foundation.

A Norfolk family

My client’s family has been with Stephenson Smart for decades, stretching back two or three generations. Their roots are very much in Norfolk, where the family lived for many years. Even though life has taken my client in different directions, that link to the county has never gone away.

When the family experienced a bereavement, my client inherited a significant estate. Comfortable financially, my client mooted they would like to give away some of their own estate so it could benefit others and be a meaningful way to remember their deceased family member. This conversation led us to explore charitable giving together. This was achieved by creating a ‘variation’ in the will, which also reduced the tax payable to HMRC on the deceased’s estate, resulting in more funds benefiting good causes.

Considering the options

My first suggestion was to increase the gifts that had already been left in the will to certain charities. Another idea was to set up a charitable trust of their own, given the size of the potential inheritance. But my client was clear that this wasn’t the right path. Running a trust brings with it responsibilities, paperwork and decision-making over many years. They simply didn’t feel that was the right choice for them.

What they did know was that they wanted to help causes in Norfolk. They already gave their time to a local charity, and they care deeply about people in the county where their family story began. That’s when I suggested we get in touch with the Norfolk Community Foundation.

Why the Foundation?

I had come across the Foundation at events and through colleagues. I knew the work they were doing across Norfolk was wide-ranging and impactful, and that they had the flexibility to support donors in a way that suited them. I also knew the fact that the money would stay local would be the biggest tick of all for my client.

When my client and I met the team, any doubts we may have had disappeared. They were impressed that the Foundation could take on all the administration but still keep them involved. This was important because they didn’t just want to sign a cheque and walk away; they wanted to feel connected to the difference their giving would make.

A smooth experience

Working with the Foundation has been fantastic. Communication has been clear and supportive at every stage. One of the biggest reliefs was around due diligence. When my client suggested some smaller local groups to support, we struggled to make contact and were unsure whether they were active charities. The Foundation stepped in, reassured us they had worked with those groups before, and handled the process from there.

What surprised me most was how flexible they were. I had expected the money would simply be pooled and distributed without much involvement from us. Instead, the Foundation encouraged my client to have a say, with their ‘Missions’ making it easy to see where their giving could make the most difference. They’ve already been involved in reviewing opportunities and will be part of decisions about which projects to fund in future.

What others can learn

For me, this experience underlined how important it is for advisers to talk about giving when the moment is right. Giving can reduce tax, yes, but more importantly it gives clients the chance to do something transformational with their wealth.

The other lesson is that we, as professionals, don’t need to do it all ourselves. Working with the Norfolk Community Foundation meant I could offer my client a simple, safe and impactful way to give, without the burden of setting up and running a trust.

The bigger picture

For my client, what started as a way of reducing a tax bill has become something more rewarding. They can see their giving making a difference in Norfolk, both immediately and for years to come. For me, being part of that journey has been a real privilege. It has shown me that good advice isn’t just about saving money but helping clients create a legacy they can feel proud of.