Inheritance tax break discussed

The Society of Trust and Estate Practitioners (STEP) has spoken out about inheritance tax, those interested in wills and probate have been told.

Keith Johnston, director of philanthropy at STEP, said that "in principle" the government's move to give people who leave ten per cent of their estate to charity an inheritance tax break will mean more people make bequests to charitable causes.

He said: "It’s highly likely that this proposal will encourage unprecedented numbers of advisors to bring up the issue of charitable giving with their clients."

 Mr Johnston added that a mere seven per cent of people make a will that includes a charitable gift despite 75 per cent supporting charitable causes while they are alive.

Therefore, he said that it would certainly be a good step if advisors brought up the issue of charitable giving with clients.

People should also make sure that they plan their inheritance tax carefully as it has recently been revealed by Unbiased.co.uk that people in the UK will waste £1.3 billion on this expense this year.

Published by Hannah Carr