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Are there tax advantages of leaving money to a charity?

April 26, 2017advantages charity leaving money tax

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Are there tax advantages of leaving money to a charity?

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The Inheritance Tax threshold currently stands at £325,000 (2011 -2012). Any value of your estate over this figure will be liable for 40% tax, however gifts to charities are awarded before the valuation is calculated. Making gifts to causes you care about during your lifetime can reduce the amount liable for Inheritance Tax and leave a lasting gift for future generations. For more information on Inheritance Tax go to the ‘Planning your Will’ page for a link to the HM Revenues & Customs website.