Leave A Legacy

Leave a gift in your Will to share your love of theatre with generations to come.

Theatre by the Lake is an intimate theatre with epic ambition, and we would love it if you would consider leaving a gift in your Will to help us achieve that ambition for future generations.  

Whatever you love the most about TBTL, leaving a gift in your Will is your chance to share how live theatre makes you feel – the way it can change how you think, see into other lives, and open up the world.  

Your gift will support two of our strategic priorities:   

  • Producing theatre for everyone in Cumbria 

There are Cumbrian stories that need to be heard, and stories that need to be heard in here Cumbria, and so we develop, produce, and present ambitious work – rooted in our location, which is both relevant and accessible to the communities around us. We are champions of Cumbrian creativity.  

  •  Creating a vibrant creative hub 

As a community asset in Keswick, our building is a welcoming creative hub for local people and groups. As the building approaches the 25th anniversary of its construction, we will continue to make TBTL a place for people to come together 

“I just have to look around to see what this theatre has to offer to the community – and that’s a real good heart. Because it includes everyone, school children, the people who live here, visitors, offering them everything” – TBTL Supporter

 

A GIFT OF ANY SIZE WILL MAKE A HUGE DIFFERENCE

Your legacy might enable:  

  • Someone to see live theatre for the first time;  
  • A community group to bring isolated and vulnerable people to TBTL;  
  • A drama worker to visit every primary school across Cumbria to deliver creative workshops;  
  • The creation of new stories, from new and/or unheard voices, through commissioning local writers;  
  • Increasing our skills development for younger people;   

… And a never-ending list of transformative experiences and work – both on and off our stages.   

There are different kinds of gifts you can leave, including:  

  • Residuary Gift: When all the gifts in your Will of fixed sums of money and specific items have been made, anything left over is called the ‘residue’. You can leave a percentage (such as 10%) of this residue as a gift to the Theatre. The useful thing about residuary gifts is that you don’t have to worry about the value of your estate declining and not being able to afford it. If your estate reduces, perhaps because you need care later or you decide to give some money to your children during your lifetime, a gift of 10% of whatever is left over will be just that – 10% of the new, reduced value. 
  • Pecuniary Gift: This is a gift of a fixed sum or money, meaning you would speak to your solicitor about leaving £x amount to us in your Will.
     
  • Specific Gift: This is when you leave an ‘item’ in your Will. It can include: shares, a house (after a surviving partner has used it for the rest of their lifetime), a car, work of art or jewellery. When you leave an item to TBTL, it will normally be sold so the money can then be used to help us deliver our strategic priorities. If you’re thinking of leaving an item to the Theatre, please have a chat with us first.
     

TAX CONSIDERATIONS 

As a registered charity, no inheritance tax is payable on the amount of your gift. This means in addition to supporting us, your gift could also reduce the inheritance tax liability on your estate. Anyone leaving a minimum 10% of their taxable estate to charity can qualify for a reduced rate, from the usual 40% of taxable wealth to 36%. Your legal adviser will be able to provide more details, and you can refer to hmrc.gov.uk/inheritancetax 

 

NEXT STEPS 

If leaving a gift in your Will is something you’re interested in, we would love to hear from you. We’d also like to know how you would like us to say thank you (publicly, or not), and acknowledge/mark your gift once we receive it. This could be through a plaque; your name in a specific piece or type of print; a bursary; or something else meaningful to you and your family. 

To discuss a legacy gift please contact development@theatrebythelake.com to arrange an initial meeting with Executive Director and Joint CEO Simon Stephens.