A lifetime donation or a bequest by will to a charity is exempt from IHT. A charity may prefer to receive a lifetime donation under Gift Aid because it can reclaim basic rate tax on the gift made.

See IHT: Lifetime charitable giving for a worked example.


Enjoying the Practical Tax content on www.rossmartin.co.uk? 

Sign up now to receive a unique FREE Tax Planning Tips and Advice Guide & our FREE Newsletter.

.Squirrel ad