IHT: Fund a charitable bequest by looking offshore

It has been estimated that as much as 74% of the population give to charities during their lifetime, while only 7% make charitable bequests through the medium of wills. For deaths on or after 6 April 2012, it is proposed that estates providing charitable bequests of at least 10% of the net estate will benefit from a 36% rate of IHT (compared with the main IHT rate of 40%). The 10% test Whether or not the 10% threshold has been met (‘the 10% test’) will be determined by comparing: (a) the total value of charitable legacies for IHT purposes; and (b) the value of the net estate for...