Society proposes measure to ensure legators qualify for IHT relief

Finance | Gareth Jones | 2 Sep 2011

The Society of Trust and Estate Practitioners (STEP) has drawn up a draft model clause which it says would help legators to ensure they benefit from the government’s proposed inheritance tax relief.

Questions had been raised about the difficulty for those leaving a legacy to know in advance the value of their estate when they die, thereby making it hard to ensure that they leave the requisite 10 per cent to charity.

However, in a response to the government’s consultation, STEP provides a draft clause to be added to individuals’ wills which would allow the executors to appropriate assets from the legator’s estate in order to reach the 10 per cent mark.

Elsewhere in its response, STEP welcomes the overall aim of the policy but raises concerns about the complexity of the relief, saying that runs counter to the work of the Office of Tax Simplification in rationalising and abolishing reliefs.

Meanwhile, CAF, CFDG and NCVO have issued a joint response to the consultation, welcoming the proposed relief but arguing that it is only likely to have an impact on existing donors, as well as calling on the government to ensure it attempts to measure the relief's success.

Directory: Charities Aid Foundation | Charity Finance Directors' Group (CFDG) | National Council of Voluntary Organisations (NCVO)

Comments

[Cancel] | Reply to:

Name *

Email *

Organisation

Job Title

Comments *

Verification *

* Please read our Community Standards

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

Robust but respectful debate
Strongly held opinions
Intelligent relevant discussion
The sharing of relevant experiences
New participants

We will not publish:

Rude, threatening, offensive, obscene or abusive language, or links to such material
Links to commercial organisations or spam postings. The comments board is not an advertising platform
The posting of contact details for yourself or others
Comments intended for malicious purpose or mindless abuse
Comments purporting to be from another person or organisation under false pretences
Gratuitous criticism, commentary or self-promotion
Any material which breaches copyright or privacy laws, or could be considered libellous
The use of the comments board for the pursuit or extension of personal disputes

Be aware:

Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
Comments left by others may not be accurate, do not rely on them as fact
You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

Enjoy the opportunity to express your opinion and respect the right of others to express theirs
Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.