Posts tagged “charitable gifts”

Will the budget abolish the residence nil rate band for inheritance tax?

Posted on 11th October 2024

Abolishing the £175,000 residence nil-rate band (RNRB) is a possibility in the budget on 30th October. The government might also consider other amendments to the inheritance tax (IHT) system.

House prices are going up but inheritance tax thresholds are unchanged so more families must pay.

What is Willanthropy?

Posted on 12th August 2024

Willanthropy is a word you might not know – it’s the act of leaving a gift to charity in your Will. This year’s Remember A Charity Week is from 9th to 15th September, so it’s a good time to think about it.

Like this woman sitting on a park bench, you might be thinking about leaving a gift to charity in your Will.

More people are leaving donations to charity in their Will

Posted on 25th January 2024

More people are leaving donations to charities in their Wills

Donations to charity have increased by over 40% in the last decade according to recent figures from Remember A Charity.

Even with cost of living increases, eight out of 10 said they were likely to leave a charitable legacy. Twice as many people said they were more likely to give than last year. Almost a third of UK donors aged over 40 say they have or intend to include a gift to charity in their Will.

Why aren’t people writing Wills?

Posted on 13th April 2023

It's too late to write your Will when you've arrived at the cemetery

A third of the adult population, more than 18.5million people, have made a Will according to recent research. However, this is the same level as 2019 and one percent less than 2020.

Are you giving cash gifts this Christmas?

Posted on 9th December 2022

Cash gofts at Christmas can be tax efficient

Money is tight this year, so cash might be a good alternative for a Christmas gift for your friends, family, or favourite charity. Before you give cash gifts, here are some things to consider.

Leaving donations to charity

Posted on 8th June 2021

Latest figures show that charitable donations left in Wills increased by more than 60% last year.

More than half of people in the UK don’t have a Will and only three out of 10 people say they have an up-to-date Will. During the pandemic 7% of people made or updated their Will.

Why leave gifts to charity?

Many people are leaving tax-free gifts to charities in their Wills to reduce the amount of inheritance tax (IHT) to be paid on their estate when they die.

Gifts to charitable causes are tax-free, and if you donate 10% of your estate to charity, the amount of inheritance tax due will be reduced from 40% to 36%, above the £325,000 tax-free threshold.