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Your support can help create a future where disabled people have the same opportunities as everyone else, and a gift to Scope in your Will can change your tax liability for the better. Find out more below how Inheritance Tax can be reduced when you leave gifts to charity in your Will and read the stories of the impact you can have on disabled people’s lives.
If your estate is worth more than £325,000 when you die, then Inheritance Tax may have to be paid at 40% for the amount above the base £325,000. As an example, if your estate is worth £350,000 then £25,000 of this is subject to Inheritance Tax. Therefore £10,000 would be deducted.
There are some ways that this tax can be avoided. These are the two main methods:
If you are leaving your estate to your wife, husband or civil partner then they will not need to pay Inheritance Tax. You are able to transfer any unused nil rate band allowance (the value of an estate that is not subject to Inheritance Tax), to your spouse or civil partner, meaning that they can then have the equivalent of both nil rate bands, e.g. £650,000, on their death. Inheritance Tax would then be charged at any amount above £650,000.
You can find out more about Inheritance Tax.
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