As part of the government’s Big Society initiative, Chancellor George Osborne stated that he wanted to make the habit of giving 10% of your estate to charity “the norm in our country”. The catalyst for this has been to introduce a tax break for individuals who choose to leave at least a tenth of their estate to charity when they make their will.
Inheritance Tax is usually paid at the rate of 40% on the net value of your estate at the date of death on anything above the tax free band (... more