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Our easy-to-use Inheritance Tax Calculator

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.

Inheritance Tax Calculator

About you

Fields marked with an * are required

Assets

Are you married or in a civil partnership?
Value of your home
Value of other Property
Other Assets
Art, collectibles, cars, etc.
Cash
Investments
Life Assurance not in trust
Total Assets

Your financial commitments

Mortgages and loans secured on your home
Mortgages and loans secured on other property
Other loans, overdrafts, credit/store cards etc.
Total Liabilities
When making financial decisions it is important to seek appropriate financial advice. The tools and information on this website should not be relied upon in place of such advice.
Net Estate (Total Assets - Total Liabilities)
*Amount Liable to IHT for Individuals
*Amount Liable to IHT for Couples
*IHT Liability for Individuals at 40%
*IHT Liability for Couples at 40%

If you would like to speak to someone about your results click here to book a meeting.

 

Assumptions:

  1. Main residence is left to direct descendants so RNRB has been applied.
  2. Calculations for couples assume that all assets are left to survivor on first death, so form part of survivor’s estate on second death.
  3. IHT liability for couples assumes all properties are owned as joint tenants for RNRB purposes.
  4. No account is taken of any additional nil rate bands that may be available (e.g. as a result of being previously widowed).
  5. No account is taken of reduced rates of inheritance tax (e.g. where some or all of estate may be left to charities, for national purposes etc).
  6. Any lifetime gifts that may have been made that reduce the available nil rate band are not taken into account.
  7. Calculations for couples assume they are married/ civil partners and that both are UK domiciles.
  8. The value of any pension funds and other death benefits payable on death do not form part of the estate(s).

This calculator is designed to indicate whether there may be a potential inheritance tax liability in the event of death. It is not intended to provide an accurate IHT liability, more an indication and professional advice should be sought where necessary.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

**Trusts are not regulated by the Financial Conduct Authority.

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Disclaimers

  • This item is for guidance purposes only.
  • It is not a projection and should not be treated as such.
  • St. James’s Place cannot accept responsibility for any loss which may occur as a result of reliance on this information.
  • It is based on our understanding of current legislation and HMRC practice. It does not constitute legal or taxation advice.
  • The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances.

Assumptions

  • Main residence is left to direct descendants so RNRB has been applied.
  • Calculations for couples assume that all assets are left to survivor on first death, so form part of survivor’s estate on second death.
  • IHT liability for couples assumes all properties are owned as joint tenants for RNRB purposes.
  • No account is taken of any additional nil rate bands that may be available (e.g. as a result of being previously widowed).
  • No account is taken of reduced rates of inheritance tax (e.g. where some or all of estate may be left to charities, for national purposes etc).
  • Any lifetime gifts that may have been made that reduce the available nil rate band are not taken into account.
  • Calculations for couples assume they are married/ civil partners and that both are UK domiciles.
  • The value of any pension funds and other death benefits payable on death do not form part of the estate(s).
  • This calculator is designed to indicate whether there may be a potential inheritance tax liability in the event of death. It is not intended to provide an accurate IHT liability, more an indication and professional advice should be sought where necessary.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.

This calculator does not take into account the possible use of any exemptions that may utilised in the future.

**Trusts are not regulated by the Financial Conduct Authority.