If you’re worried your family may face a large inheritance tax bill after you die, giving more money to your favourite charity could be the key to cutting it, new calculations show.
This is because charitable donations can trigger a little-known rule that lowers the rate of inheritance tax families have to pay.
Marianna Hunt, of investment group Fidelity, says: ‘Giving more money to charity can be a powerful way of supporting the causes you care about while potentially reducing the tax paid on your estate.’
The number of families that are caught in the inheritance tax net is expected to spike in
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