Maximising your charity legacies: estate income tax

Event details

Date: 3rd October 2023
Time: 12:00PM
Venue: Online via Zoom

This event has already happened.

With interest rates rising, it is important to consider how income tax is applied to estates and how you might add value to your residuary legacies by reclaiming this.  In this bitesize “lunch and learn”, Richard Honey at Charles Russell Speechlys LLP and James Stebbings, Macmillan and ILM Chair, will discuss what you can do when it comes to estate administration income, what the key questions to ask personal representatives might be, and what it means for your charity.  Key questions we will cover include?

  • What is the administration period, and what duties are executors under to pay tax during this time?
  • How does this affect residuary beneficiaries?
  • What is a Form R185 and what does it mean?
  • What ‘best practice’ should be adopted to maximise the income from charitable bequests?