Posted 02/06/2011
There was not much to cheer in the 2011 Budget in so far as Inheritance Tax (IHT) is concerned, however the Chancellor has decided to reward philanthropy.
Those persons who leave 10% or more of their estate to charity will have the effect of reducing the IHT rate payable on death from 40% to 36%. This new measure may give some scope for tax planning.
A Will is essential in order to take advantage of the new provisions. For further advice contact our Wills and Trust Team.
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