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You are viewing: » Home » Support us » Welcome to Wetnose Animal Aid - Leaving a legacy
Leaving a legacy - inheritance tax
If the total value of your estate is over a certain amount (currently £263,000) then inheritance tax may become payable.
It is surprising how the value of your assets can add up and grow over the years, especially if you own your own home.
A drawn up Will can help to reduce the tax payable and enable more of your assets to go to your beneficiaries. Leaving a gift to a UK charitable organisation or good cause such as Wetnose Animal Aid can lower the tax that may be due.
One Example
For example your house, pensions, car and insurances are valued at £285,000.
At today's present threshold for inheritance tax of £263,000 your estate would be liable to tax on £22,000 (£285,000 - £263, 000). This tax is 40% which will be £8,800 due.
If you could give a £10,000 gift to a good cause, then your estate would be liable to 40% tax on only £12,000 which is £4,800.
In other words by giving away £10,000 to a good cause you have stopped the tax man getting £4,000 of your money.
Your solicitor will be able to help you keep your inheritance tax liability as low as possible.
Who would you like the money to go to sick animals or the tax man?
So if you love animals like us, and would like to leave us a legacy, we can help give you advise.
Ring us for more information: 01508 518 650.
We believe ALL living creatures need help. Animals and Humans. All donations are very welcome.
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