13 April 2011
Government's wills tax break 'won't result in more being left to charities'
The fact that the government has implemented a new tax break on Wills does not automatically mean people will leave more money to charities as part of their last wishes, an expert in the field has said.
During his latest Budget speech delivered to the House of Commons last month (March 22nd), chancellor George Osborne announced the creation of a ten per cent relief on inheritance tax, which will be introduced next year.
However, while describing this measure as a "move in the right direction", Brian McMillan, director general of the Society of Will Writers, has noted that it only represents an "added bonus", as it is already possible to "significantly mitigate your inheritance tax by leaving money to charities".
Mr McMillan went on to say that the Conservative-Liberal Democrat alliance should be applauded for "trying to get charities to do more" but added: "I just don't think it is going to do a lot really".
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Posted by Richard Saunders