Leave it to Us
The Railway has benefitted from a number of generous legacies. In recent years, legacies have contributed hugely to the completion of the Welsh Highland Railway, to the remodelling of Harbour Station, to heritage restorations such as the Old engine Shed at Boston Lodge, and in 2014 gave the railway a new carriage.
Traditionally, significant legacies have been left to the Ffestiniog and Welsh Highland Railways Trust (registered charity 239904 of Harbour Station, Porthmadog, Gwynedd, LL49 9NF). The Trust is the major provider of grant finance to the Company. The trustees have oversight of the Company so they are in a good position to respond speedily to its financial needs and to monitor how the funding they provide is spent.
The trustees and officials of the Trust are unpaid and meet their own expenses so administration costs are minimal. Over the last five years these administrative costs have averaged less than two per cent of receipts, and two thirds of that has been too cover the audit fees of the Ffestiniog and Welsh Highland Railways Group as a whole. So, donors can rest assured that what they give will go to the railway, and not be eroded by expenses. Since the Trust is a registered charity, any amount you leave to it should under current tax rules, qualify for relief from Inheritance Tax, so that all your money will go to the railway.
Alternatively, if you would prefer to leave a legacy via one of the railway's two supporting Societies - the Ffestiniog Railway Society and the Welsh Highland Railway Society - that is also possible. Both the Societies are also registered charities.
Leaving a legacy to the Ffestiniog and Welsh Highland Railways Trust
If you are considering making a gift to the Trust in your will (a legacy) it is important that you get the advice of a solicitor. The law about wills and legacies - and related tax issues - can be complicated, and if you write your own will without legal advice there is a risk that your wishes may not be carried out in the way you intended.
When thinking about leaving a legacy you need to consider what kind of gift you wish to make, for example:
•You can leave the Trust a specific amount - a pecuniary legacy - or
•You can leave it the whole or a percentage of what remains of your estate after specific gifts have been made and expenses paid - a residuary legacy.
•Another option is to provide that a part or all of your estate should benefit a relative or relatives during their lifetime(s), but will pass to the Trust after their death(s).
Whatever you choose to do, it is important that you mention the full details of the Trust as follows:
The Ffestiniog and Welsh Highland Railways Trust of Harbour Station, Porthmadog, Gwynedd LL49 9NF (registered charity number 239904).
If you wish, you may stipulate that your gift is to be used solely in connection with the Ffestiniog Railway or with the Welsh Highland Railway.
A legacy for a more specific purpose
You are welcome to leave a legacy to be used for a more specific purpose in connection with the Ffestiniog Railway or with the Welsh Highland Railway. Please contact the Administrator, Michael Wilkinson to discuss your wishes. It may not always be practical to carry out a particular request, and this can give rise to difficulties if it is written in to your will. In any case the railway's needs will change over time, and it is very helpful if you can allow the trustees as much flexibility as possible to find alternative ways in which your gift may be used if necessary. A solicitor will be able to advise you on the appropriate wording to allow this.
If you would like more information or would like to discuss your wishes, please contact:
FfR&WHR Trust Legacy,
Gwynedd, LL49 9NF
or email: firstname.lastname@example.org
A leaflet can also be downloaded here.