{"id":1244,"date":"2015-04-29T14:33:16","date_gmt":"2015-04-29T14:33:16","guid":{"rendered":"http:\/\/www.newsfin.co.uk\/news\/?p=1244"},"modified":"2015-04-29T14:33:16","modified_gmt":"2015-04-29T14:33:16","slug":"giving-to-charity","status":"publish","type":"post","link":"https:\/\/www.vizionwealth.co.uk\/news\/giving-to-charity\/","title":{"rendered":"Giving to charity"},"content":{"rendered":"<p><strong>Reducing an Inheritance Tax \u2013 it&#8217;s good to give<\/strong><\/p>\n<p>A n estate can pay Inheritance Tax at a reduced rate of 36% on some assets (instead of 40%) if 10% or more of the &#8216;net value&#8217; of their estate is left to charity.<!--more--><\/p>\n<p>The net value of an estate is the total value of all the assets after deducting:<\/p>\n<p>\u2022 Debts and liabilities<br \/>\n\u2022 Reliefs<br \/>\n\u2022 Exemptions, for example, anything left to a husband, wife or civil partner<br \/>\n\u2022 Anything below the IHT threshold of \u00a3325,000 (the nil rate band)<\/p>\n<p>An estate doesn&#8217;t have to pay IHT on any\u00a0gifts\u00a0given to charities, museums, universities or community amateur<br \/>\nsports clubs.<\/p>\n<p><strong>Which charities you can leave assets to<\/strong><\/p>\n<p>To pay the reduced rate, the assets must be left to:<\/p>\n<p>\u2022 Charities with an HM Revenue<br \/>\nand Customs (HMRC) charity<br \/>\nreference number<br \/>\n\u2022 Community amateur sports clubs\u00a0(CASCs)<br \/>\nWriting a Will<br \/>\nYou can\u00a0write a clause into your Will\u00a0to make sure that you&#8217;ll leave 10% of your estate to charity.<\/p>\n<p><strong>Change a Will<\/strong><br \/>\nThe beneficiaries of an estate can change the Will\u00a0to make or increase a donation to a charity so the estate meets the 10% test.<\/p>\n<p><strong>Opt out of paying the reduced rate<\/strong><br \/>\nIf you&#8217;re the executor of a Will or administrator of an estate, you can choose to pay IHT at 40% rather than the reduced rate \u2013 if the beneficiaries agree.<\/p>\n<p>This can make it easier to deal with the estate, for example, if the cost of getting some of the assets professionally valued would outweigh the benefits of paying the reduced rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reducing an Inheritance Tax \u2013 it&#8217;s good to give A n estate can pay Inheritance Tax at a reduced rate of 36% on some assets (instead of 40%) if 10% or more of the &#8216;net value&#8217; of their estate is left to charity.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/posts\/1244"}],"collection":[{"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/comments?post=1244"}],"version-history":[{"count":0,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/posts\/1244\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/media?parent=1244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/categories?post=1244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vizionwealth.co.uk\/news\/wp-json\/wp\/v2\/tags?post=1244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}