Having an accountant in North Wales around ensures that throughout your life, you can make a series of savvy decisions which will ensure that you don’t pay over the odds in your dues. The services of a good accountant in North Wales or beyond generally goes far further than payroll services, it comes with advice in order to not get fleeced at every single turn. Taxation is a sensitive issue, and the public’s ignorance in the light of what they have to pay and what they do not have to pay is still rather low, but looks to be increasing – if recent figures of charitable donations being utilised to cut inheritance tax bills by a record £880m is to be believed.

As we approach 2017, this figure is expected to rise to well over £900m, as the reported £880m in 2017 has grown by a staggering 16% in only a year. This can be attributed to the Conservative Government’s recent changes in tax laws, which has resulted in very many members of the public choosing to leave donations to charitable causes within their wills, in order to have the value of what they leave behind at a lower point than the Conservative’s cap where Inheritance Tax will come into play.

This is very useful for a number of reasons. For instance – the fact that narrowly avoiding a cap isn’t the only benefit to taking advantage of the services of an accountant. The benefits are vast and varied – furthermore giving to a charity is valuable in other ways. For instance, if you leave 10% of your estate’s value to charity, you can use this to obtain relief from the Inheritance Tax rate, as well as avoid any tricky caps which would normally hit your estate and what you leave behind to the people you love by 40%.

Inheritance Tax is by far the most criticised of all tax, as many people rightly feel that to be charged to die is a very unfair thing. Unfortunately, there is precious little which can be done about such as we’re all bound to the law. Thankfully, the services of a good accountant can allow you to (legally) mitigate this blow to those you leave behind somewhat.