It is often at Christmas that we tend to see the adverts on TV encouraging people to give to charity.
In recent years the Government, through the budgets, have made changes to the consequences of leaving a gift to charity within your Will.
A reduced 36% Inheritance Tax (IHT) rate may apply to estates where at least 10% of the net estate goes to a qualifying charity or charities. These new rules apply from 6 April 2012. Ordinarily the rate of Inheritance Tax is 40%.
The calculation of 10% of the net estate is complicated and here at Kerseys we have the expertise to advise you as to any estate planning within your Wills that you may wish to undertake in order to make use of the reduced IHT rate rules.
Also, we have experience in liaising with HM Revenue & Customs and administering estates that benefit from this rule.
So should you wish to review your Will with a view to estate planning in order to make use of the reduced IHT rate please do not hesitate to contact our private client department.