Donating Residual Client Funds
Young Lives vs Cancer is proud to offer businesses a secure and impactful way to donate residual or dormant client funds while ensuring compliance with legal and professional guidelines. We provide a streamlined process backed by our Charity Donations Indemnity Policy (CDIP), which safeguards both corporate donors and our charity against any future claims.
Young Lives vs Cancer has established itself as a trusted partner for companies managing residual and dormant funds. By choosing us, you align your business with a cause that makes a lasting difference while adhering to professional standards.
Residual or dormant client funds are balances held in corporate accounts that cannot be traced back to their owners.
Best practices outlined by the Royal Institute of Chartered Surveyors (RICS) and Solicitors Regulation Authority (SRA) recommend that after a three-year retention period, these funds be donated to a registered charity.
Our Charity Donations Indemnity Policy offers protection, enabling companies to make these donations with confidence.
You Can Donate Residual Client Funds to Young Lives vs Cancer:
- If reasonable efforts have failed to trace the identity and contact details of the client or owners of the money
- Provided all RICS and SRA requirements are adhered to
- With SRA permission if the amount is over £500, or without permission if the balance is under £500 (if applicable).
If your organisation has residual client funds and would like to explore donating them:
Step 1 – Contact Us:
Reach out to Young Lives vs Cancer’s Partnerships team: corporate@younglivesvscancer.org.uk
Step 2 – Due Diligence:
We’ll work with you to ensure all guidelines are followed, including RICS/SRA protocols.
Step 3 – Donate Securely:
With our CDIP in place, we handle the donation process efficiently, ensuring all risks are mitigated.
Since October 2014, residual client account balances of up to £500 can be donated to charity without authorisation from the SRA.
In this case, please contact corporate@younglivesvscancer.org.uk to arrange a bank transfer.
Why Donate to Young Lives vs Cancer?
- Risk-Free Giving: Our Charity Donations Indemnity Policy covers donations to protect against any claims under the Limitation Act 1980, which allows clients to reclaim funds for up to six years.
- Timely and Reliable Process: We have successfully managed a number of residual fund donations, ensuring compliance and peace of mind for corporate donors.
- Positive Impact: Your donations help Young Lives vs Cancer support young cancer patients and their families, turning unclaimed funds into life-changing support.
Further Information
If you have any questions about donating residual client accounts, contact us by emailing corporate@younglivesvscancer.org.uk or phoning 0300 330 0803 (Monday to Friday, 9am–5pm).
Additional guidelines can be found on the RICS and SRA websites.