Wanting to make sure your family is taken care of after you’re gone is perfectly natural, so you should look at your inheritance as part of your financial plan. But since Inheritance Tax is charged on any estate worth more than £325,000, or up to £500,000 if your estate includes your residence, it’s important to have a good idea of how much yours will be worth.
That’s why we’ve developed an easy-to-use Inheritance Tax Calculator, so you can estimate the total value of your estate, including your assets, investments and property. This will give you a good idea of how much Inheritance Tax may be due after your death, so you can take steps to reduce the amount you’ll have to pay.
Our friendly team of expert financial advisers can guide you through the various options open to you, so you can minimise your tax liability while still working to achieve your wider lifestyle goals.
This calculator is a quick guide. It does not include other reliefs and exemptions that might apply. It’s also important to note that any gifts made in the past seven years, or entitlements you may have in existing trusts**, are not included. These could increase the amount of IHT payable.
If you’re married or in a civil partnership, IHT liability might not kick in until the second death, depending on the provisions of your Wills.