Charitable wills should be exempt from VAT, the Charity Tax Commission has recommend.
This recommendation, which was published in the organisation’s report on reforming charity taxation, has been supported by charitable wills specialist Remember A Charity and the Institute of Fundraising.
Rob Cope, director of Remember A Charity, welcomed the report and highlighted the importance of incentivised legacy giving for all supporters.
He acknowledged current Inheritance Tax breaks are a “powerful motivator” for advisors to suggest legacy giving with clients, but these are only available to a minority of people...