ESTATE PLANNING & INHERITANCE TAX
Inheritance tax is paid on the estate, the value of the assets you leave when you die. Once thought to be a tax on the wealthy, it now catches many estates, small and large.
IHT can be complicated and no one likes to think about their own mortality, so it is a subject that is easy to avoid. But a little financial planning now can mean that your family and friends get your money when you die, not the Chancellor and/or the Crown.
There are lots of good ways to reduce the amount of inheritance tax your family will pay. Knowing how much tax your tax family is exposed is a good place to start.
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Please note that the calculator is very general in nature, and won't reflect your exact situation. It should not be used to replace full financial planning.
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How much will your tax bill be?
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This calculator does not factor in the taper on the property allowance, which falls on estates worth more than £2m.
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Some investments are not subject to inheritance in some circumstances, such as AIM shares. Speak to a financial adviser for more information.
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The calculator does not take into account any gifts made, or trusts established which may lead to a higher IHT bill
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Charitable donations which might reduce your IHT rate have not been included.