Only one-fifth (18%) of adults in the UK make a positive decision to consider leaving a charitable gift in their will and one in three of them will leave funds to the big charities.
Aside from being a kind and generous thing to do there are tax benefits associated with leaving a gift for a charity. Gifts made to charities are deducted from the value of the estate before any inheritance tax is dedicated and so can reduce the amount of tax paid. In fact if the donation is 10% or more of the estate then inheritance tax is reduced from 40% to 36% (click HERE for government explanation). Please talk to a financial advisor for the best and most up to date information.
If you are considering leaving LTT some money, we would very much like to talk to you about it and go through the CODICIL with you.