Inheritance Tax Reduction
Generally, all gifts to a charity and charitable legacies are fully exempt from Inheritance Tax, provided that the charity meets certain criteria. The Swiss Benevolent Society fulfils these criteria.
An additional relief applies where the deceased leaves 10% or more of their “net estate” to charity. Where the estate qualifies for the additional relief, a discount of 10% applies to the Inheritance Tax rate; in other words, the Inheritance Tax rate on the remaining estate is reduced from 40% to 36%. Please speak to your solicitor or other tax specialist for detailed professional advice.