Extra Inheritance Tax Savings
On behalf of Attwaters Jameson Hill posted on Sunday, November 6th, 2016
Gifts made to a UK registered charity in your Will are exempt from Inheritance Tax.
However, it is now possible to reduce the overall rate of Inheritance Tax on non-exempt assets from the standard rate of 40% to 36%.
From 6th April 2012, if you leave 10% or more of your net estate to registered UK charities you can (in certain circumstances) pay Inheritance Tax at the lower rate of 36% opposed to the standard rate of 40% (on assets in excess of the Inheritance Tax threshold, currently £325,000).
ACTION:
If you are considering leaving a part of your estate to registered UK charities and would like to take advantage of the new inheritance tax regime please call us on 0330 221 8855 or complete one of our contact forms