The calculator determines whether your estate would be liable to inheritance tax if you died today. It is not individualized counsel and only covers some details of the inheritance tax rules. Please seek counsel if you are still determining how inheritance tax will affect you. As of January 1, 2024, the information is thought to be correct.
Tax rules are subject to change, and how they affect you depends on your circumstances.
This calculator is merely a guide. Other reliefs and exemptions that may apply should be included. It's also worth noting that any gifts made in the previous seven years and any entitlements you may have in existing trusts**are not included. These could raise the amount of IHT owed.
If you're married or in a civil partnership, depending on the provisions of your Wills, IHT liability may not begin until the second death.
Insert your best estimate of the value of your assets into each of the areas below for a quick evaluation of IHT obligation.
Use this calculator to work out the amount needed to qualify if you're:
• making your own will
• if the death occurred after April 6, 2012, the executor of the deceased's will or the administrator of their estate
This calculator is not usable if:
• The death occurred before April 6, 2012.
• There are fees associated with tax deferral for wood or heritage assets; tax on these is usually 40%.
• There is no death, and no inheritance tax is required on a trust.