There are financial benefits of leaving a gift to charity in your will, which will not only benefit the charity but also your friends, family and other beneficiaries.
Legacy gifts are generally exempt from inheritance tax. By leaving a gift to the RIBA in your will you may be able to reduce the taxable value of your assets and so lower the amount of inheritance tax due on your estate.
From April 2012, the government introduced a change to Inheritance Tax legislation meaning in some situations, anyone leaving 10% or more of their taxable estate to charity will qualify for a reduced rate of Inheritance Tax.
View a detailed example illustrating how an individual with an estate of gross value £500,000 could benefit from this legislation.
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