Giving to charity- making the most of Gift Aid so charities can reclaim the tax
Understanding Gift Aid - how you can make your donations go further without it costing you a penny
If you already give to charity, it can get more money - without it costing you a penny. How? Through Gift Aid. Gift Aid lets charities reclaim basic rate tax. You have to be a taxpayer for them to do this.
The inheritance tax allowance is worth £325,000; how can you cut your inheritance tax bill?
There are ways you can avoid inheritance tax - here are some.
Most people don’t leave enough money behind when they die to pay inheritance tax, but it’s a tax that still causes a lot of resentment and anxiety. The amount an individual is able to leave before they have to pay inheritance tax is £325,000. While married couples and anyone in a civil partnership can effectively double the threshold to £650,000, it’s couples who live together but who aren't married who get caught out.
How to pay less inheritance tax; using potentially exempt transfers and other IHT allowances.
Inheritance tax has always been one of the most unpopular taxes, but you can take steps reduce your bill.
From time to time politicians of various shades promise to abolish inheritance tax or at least to reduce its impact. Even though property and share prices took a hammering in the aftermath of the credit crunch, many people worry about the impact that inheritance tax might have. Figures from HM Revenue & Customs generally show that it isn't the wealthiest people who pay inheritance tax, as they've put plans in place to minimise it.