Sign of the Peace

Two are better than one, because they have a good return for their work. If one falls down, his friend can help him up.

Ecclesiastes 4:9-10
Here are the answers to some frequently asked questions regarding gifts in wills to the Church of England. They provide basic information, sometimes about fairly complex topics.

What is Inheritance Tax?

Inheritance Tax is only due if your estate (including any assets held in trust and gifts made within seven years of death) is valued over the current Inheritance Tax threshold £325,000 in 2013-14.

The tax is payable at 40 per cent on the amount over this threshold or 36 per cent if the estate qualifies for a reduced rate as a result of a larger 10% charitable donation.

All charitable gifts (including gifts in wills to the Church of England) are exempt of inheritance tax. For more information visit HMRC.

 

Other frequently asked questions

Who is the proper receiving body of a gift to a parish church?
What is the church is part of a benefice?
What do words such as bequest and residuary mean?
Do I need a charity number to leave a gift to my local church?
Can I leave a gift in my Will to more than one Church?
What purposes can I leave my gift to?
How often should I update my Will?
What is a Codicil?
How much does it cost to write a Will?
Can a PCC claim Gift Aid on a Legacy?
How should the church receive payment?

Source URL: https://www.churchofengland.org/our-faith/lasting-gift-your-church/writing-your-will/inheritance-tax-and-other-faqs