Summary: Legacies to charities are currently exempt from inheritance Tax (IHT). From the new tax year onwards they may carry the additional benefit of reducing the IHT rate payable on a deceased’s estate from 40% to 36%.  Richard Monkcom, Head of Druces’ Private Client team, reviews the new rules

Relevant to: Individuals considering ways in which their tax bill may be reduced on death and those interested in leaving money to charity.