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The legal and tax principles that are applicable to observant Muslims when passing their estates to the next generation.
KEY POINTS
- Shariah is important for Muslims who wish to adhere to Islamic principles.
- The Shariah heirship principles are not efficient for inheritance tax purposes.
- Lifetime giving is not restricted under Shariah law.
- Bequests can be given to a charity registered in the UK (and specified charities abroad) free of tax
- A deed of variation can maximise tax efficiency but remain Shariah-compliant.
Shariah is the term used to describe Islamic law often referred to as God’s law. It plays a fundamental role for Muslims wishing to adhere to the true practice of Islam. Shariah originates from the Quaran (the holy book) and Sunnah meaning the trodden path of the Prophet Mohammed blessings and peace be upon him often evidenced in narrated Hadith – the accounts of his teachings.
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