Donations and Bequests Account
Section 8 of the National Debt Reduction Act 1823 created this account which, as its title implies, is used to handle donations and bequests from public-spirited members of the public for the purpose of reducing the National Debt. Both cash and securities are received, but only UK Government securities, that are a direct charge on the National Loans Fund, may be accepted directly onto the account and subsequently cancelled. Other securities are taken first on the Commissioners' Suspense Account, from where they are sold and the proceeds are then transferred to the Donations and Bequests Account. Bequests and other gifts are handled by the Treasury Solicitor who conducts all negotiations with executors and trustees and passes the final cash or securities proceeds to CRND.
UK government bonds received as a gift to the nation are cancelled in the corresponding amount. Cash donations and cash proceeds from bequests and other gifts are used to purchase, and periodically cancel, gilts from the wider market, thus reducing the amount of outstanding debt accordingly.
If you are interested in donating UK government bonds to the Donations and Bequest Account, you need to complete a Stock Transfer Form which is available on the Computershare website.
The combined annual report and accounts of the miscellaneous CRND accounts can be found here.