Gifts to charity are normally free of Inheritance Tax and reduce the estate according to the amount gifted. As a bonus to encourage charitable giving, if you give away more than 10% of your estate to charitable causes then your entire estate will qualify for a reduced IHT rate of 36% rather than 40% on the value of the estate after the IHT allowance and charitable donation has been deducted.
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The Ethical Partnership Ltd provides financial advice and planning, in plain English, to people who want to ensure they make the right financial decisions at the right times and at the right cost. It's simple!