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Life insurance: Will tax saving lead to people donating to charity?

By Marianne Straker, Tue 12 Apr 2011 - Published in Life Insurance

People who have taken out life insurance and written a will may not necessarily be encouraged to leave money to charities following a ten per cent inheritance tax break, according to the Society of Will Writers.

Following the chancellor's proposals the organisation said that people will think of it as an added bonus.

Brian McMillan, director general of the Society of Will Writers, said: "It is a move in the right direction, which is trying to get the charities to do more, rather than help from the government. I just don't think it is going to do a lot, really."

He noted that the society encourages and advises people to reduce the amount of inheritance tax they pay by making it available to a charity.

Recently, Standard Life stated that the plan to introduce the tax saving next year could drive a change of public opinion about people considering leaving money to the third sector in their will.