By remembering RMA – The Royal Marines Charity in your Will you may be able to reduce the taxable value of your assets and lower the amount of inheritance tax due on your estate.
The Inheritance Tax (IHT) threshold does change from time to time but is currently set at £325,000. If the total value of your estate is above this threshold, it could be subject to IHT.
Married couples and civil partners can combine their tax allowances. This allows the surviving spouse or civil partner to benefit from any unused portion of their spouses or partner’s allowance.
As RMA – The Royal Marines Charity is a registered charity, a gift to us in your Will would be exempt from IHT. The gift will be deducted from your estate before IHT is calculated, and so reduce the amount of IHT payable. A solicitor will be able to give more detailed advice and guidance on efficient tax planning.
There is further incentive if you can leave RMA – The Royal Marines Charity 10% or more of your taxable estate as the IHT rate charged against your estate will be reduced from 40% to 36%.
For further information please visit: https://www.gov.uk/inheritance-tax