FAQ|How does gifts in Wills impact inheritance tax?
How does gifts in Wills impact inheritance tax?
Inheritance tax is based on the value of a person’s estate upon their death. The ‘nil rate band’ or ‘inheritance tax threshold’ is the value of the estate that is exempt from inheritance tax. You could decrease the amount of inheritance tax by 4% if you choose to leave 10% or more of your estate to charity. For further information about inheritance tax, visit www.gov.uk/inheritance-tax. For all tax advice, we suggest you get in touch with a solicitor.
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