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Inheritance Tax Calculator

Find out if your loved ones would have to pay Inheritance Tax

Inheritance Tax calculator

Are you worried that your loved ones would have to pay Inheritance Tax (IHT) after you die? This simple IHT calculator can help you work out if IHT will be payable and how much.

What is Inheritance Tax (IHT)?

IHT, or death duty, is a tax paid to HMRC after you pass away. The amount you pay depends on how much your estate* is worth.

*Your estate is essentially everything you own; minus any debts or liabilities you may have.

Do I have to pay Inheritance Tax?

There are some allowances which, in simple terms mean that your estate needs to be worth over £500,000 for a single person, or £1m for a married couple, before IHT is due. However, at 40% this is one of the highest levels of tax your loved ones could have to pay, so it’s important to regularly review the value of your estate.

The good news is that with careful planning, there are ways that you can reduce or eliminate the amount of IHT your successors must pay. Use this calculator as a starting point to see whether IHT is likely to be due on your death.

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The total value of the property you live in
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For example second homes or Buy-to-Let properties you own
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Include Premium Bonds, Cash ISAs, Savings accounts
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Investment Bonds not in Trust, Stocks & Shares ISAs, Direct Shares, Investment Accounts
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This type of pension does not provide a guaranteed income like a Defined Benefit (or Final Salary) pension. Instead, you choose whether to drawdown from it, or use it to buy an annuity.
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This is an employee benefit which usually pays a multiple of your salary to your family if you die whilst employed by them.
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This is an insurance policy which pays a lump sum to your family upon your death. Please do not include cover which out that payout into a Trust.
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For example, cars, jewellery, artwork, antiques
Do you own a business?
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The outstanding mortgage on the property you live in
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Outstanding mortgages on other properties, such as second homes, Buy-to-Let properties
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Discuss your IHT needs with a financial expert

Why not arrange a consultation with one of our independent financial advisers? It’s entirely at their cost and will only take 45 minutes of your time.

There’s absolutely no obligation for you to use our services.

Book a call
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