Making a Gift
Making a gift to Andrew Wommack Ministries Europe – and to charity in general - is good for your estate too. Any gift to charity is free from Inheritance Tax. If you want to leave 10% or more of your estate to charity, then your estate also gets a bonus if it is liable to pay Inheritance Tax, as the rate of Inheritance Tax is reduced from 40% to 36%.
Inheritance tax is charged on the excess value of your estate over an allowance called the Nil Rate Band. At the moment the Nil Rate band is £325,000 but this may change in the future. Any gifts to charity or to someone you are married to are not liable to Inheritance Tax. Any value in your estate over £325,000 that does not pass to charity or a spouse will be liable to inheritance tax at a rate of 40% - or 36% if you have left 10% or more of your estate to charity.