
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.