How to include charitable donations in your tax planning strategy.
Incorporating charitable giving into your tax planning strategy can be a useful way to reduce both your income tax and the inheritance tax (IHT) that will eventually become payable on your estate.
As such, gifts may become an important component of both the estate planning process and the more immediate goals of reducing your income tax bill.
You can make charitable gifts at any time during your lifetime and posthumous gifts can be written into your will. (more…)