My mother is 89 years old. If she gives away money from her pension regularly without it affecting her standard of living, how will it affect her inheritance tax allowance? Will her nil-rate band be reduced?
Every year, millions of people around the UK give their time and money to help others.
Our own research shows that charities are set for a significant windfall as one in eight millennials who expect to receive an inheritance of more than £50,000 have already decided that they want to pass some of it on to charitable causes.
Whether you make a regular donation to charity or leave a legacy in your will, using your wealth to support good causes can deliver much more than a financial return. Adopting some of the principles of philanthropy can increase the benefits of giving, both for you and for your chosen charities.
Leaving cash to charity
Can you please tell me how inheritance tax works in relation to legacies to charities? I do not have a spouse or children and the value of my estate will exceed £325,000. Am I able to leave up to £325,000 to individuals and the remainder to charities without incurring liability to IHT?
J. Runham, Northants
Investors are now able to buy and sell retail bonds issued by charities on the LSE, following the launch of a new retail bond-issuing platform.
An investment company that will pay part of its net asset value to a cancer charity each year is preparing to list in London.
Cathy Adams explains how you can donate to your favourite charities tax-efficiently.
Inheritance tax bills for those leaving 10 per cent or more to charity will be slashed by the same amount, in measures announced in today’s Budget.
People could give to charity every time they use their bank cards at cash machines and shops, under government proposals announced in its recent 'Giving' green paper.
Christmas isn't just about festivities - charity has historically been an important part of Christmas, with churches leaving alms boxes for poorer parishioners on Boxing Day. This was also the day the wealthier classes let their staff home to see their families with a gift box of food.