The income received from legacies remains strong in the face of strained economic times, it has been suggested.

A report published by Legacy Foresight indicated that legacy income could reach £4 billion in 2022. If correct this marks an increase of 14 per cent on the figures from 2021.

Factors explaining the rise, have been attributed to a booming housing market and probate cases being handled faster, after a backlog built up during the Covid pandemic.

HM Revenue & Customs (HMRC) had to recruit a substantial number of new staff to alleviate the issue. The amount of money raised from legacies is expected to taper off to a lower level in 2023.

Bricks and Mortar

While traditional shops on the High Street have taken a double whammy from the internet and Covid, charity shops are reporting healthy results.

Research from the Charity Retail Association showed that charity sales are up 10 per cent on figures from the same time last year. Reasons for the upsurge in sales can be attributed to a number of factors.

Inflation and rising prices mean consumers are looking for cheaper alternatives to big brands. Concerns for the environment and pushback against ‘fast fashion’ are also causing consumers to look to charity shops for more ecologically friendly fashion.

This latest trends in donations and charity spending are interesting and may highlight key areas for your organisation’s growth strategy in the years to come. If you would like help assessing your cashflow and various forms of income, get in touch with our charity team.