Inheritance Tax Calculator

Use our calculator to see if your estate may be liable to Inheritance Tax.

If you would prefer to discuss your potential Inheritance Tax requirements with an expert, get in touch today.

Date last reviewed: April 16th, 2024

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What is your marital status?

I am single.

I am a widow(er).

We are a couple.

For single people

Our calculations use one Inheritance Nil Rate Band and one Residence Nil Rate Band allowances.

For widow(er)s

Our calculations use two Inheritance Nil Rate Bands and two Residence Nil Rate Band allowances. For the deceased party, we assume the Inheritance Nil Rate Band is £325,000 and the Residence Nil Rate Band is £175,000.

For couples

Our calculations use two Inheritance Nil Rate Bands and two Residence Nil Rate Band allowances. If on the first death all assets pass to the surviving spouse or civil partner, there is no Inheritance Tax payable.

Your assets.

Your main property

Other properties

(This could be second homes or buy to-lets)

Your cash savings

Other investments

(excluding pensions)

Insurance policies not held in trusts

(e.g. life insurance, Whole of Life)

Your liabilities.

Remaining mortgage(s)

Loans

Credit cards

Overdrafts

Gifts.

Non-exempt gifts made in the last 7 years*

*Any non-exempt gifts made in seven years prior to death will reduce the amount of Inheritance Tax Nil Rate Band available on death.

Please fill in the relevant fields above.

Your results.

Based on your answers, your estate is not likely to be liable for Inheritance Tax.

Based on your answers, your estate may be liable for Inheritance Tax.

With financial advice, you may be able to reduce the Inheritance Tax burden for your beneficiaries and pass on more of your money.

Based on your answers, your estate is likely to have an Inheritance Tax Liability.

With financial advice, you may be able to reduce the Inheritance Tax burden for your beneficiaries and pass on more of your money.

If you would like a financial adviser to review your situation in more detail, please get in touch and we’ll be happy to help.

This is a high-level indicative calculation of your potential Inheritance Tax liability. It doesn’t include assets already outside of your estate and is not financial advice or a personal recommendation. Your capital is at risk, investments can fluctuate in value and investors may not get the amount back they initially invest. Tax is subject to an individual’s personal circumstances, and tax rules can change at any time. Details correct as of October 2023.

Please note that from April 2027, pensions are expected to be included in Inheritance Tax calculations. This calculator will only show you your potential Inheritance Tax position as it is now, before this change comes into effect.

This calculator is also not designed to calculate the potential Inheritance Tax on assets that may benefit from Agricultural Relief or Business Relief.

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Brought to you by True Potential Wealth Management.

True Potential Wealth Management offers restricted financial advice. Our service is specifically designed for clients wishing to access their financial affairs online.

With investing your capital is at risk. Investments can fluctuate in value and you could get back less than you invest.

Tax is subject to an individual’s personal circumstances, and tax rules can change at any time.

True Potential Wealth Management LLP is authorised and regulated by the Financial Conduct Authority, FRN 529810. www.fca.org.uk

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