Inheritance Tax Calculator
The Inheritance Tax (IHT) Calculator allows you to find out the approximate IHT liability on your client’s estate by factoring in their property, investments and cash value, along with the number of Nil Rate Bands (NRB) they are entitled to.
If you would like to discuss these results with a member of our team please call 020 7391 4747.
Inheritance tax can be a complicated topic and this calculator is intended to help you understand some of the key areas. It has been prepared in good faith and is based on our understanding of the law and our interpretation of it. However we do not provide tax advice. So, although we have tried to illustrate the effect of inheritance tax in a simpler manner, this calculator is not intended as a proxy for taking professional advice.
The results of the calculator start from tax year 2020/2021 in order to factor in the introduction of the Residence Nil Rate Band (RNRB).
The calculator makes an assumption that the Nil Rate Bands and Taper Threshold will grow by 2% p.a. from 2021/22 to account for CPI linked increases.
The calculator does not take into account levels of income and expenditure and how these may impact the estate value over time.
The output of the calculator is based on current legislation, which may be subject to change. This is for illustrative purposes only and does not constitute advice.
This calculator is provided for illustrative purposes only and does not constitute advice by TIME Investments (‘TIME’) and should not be taken as a basis for investment. Independent tax advice should be obtained and TIME does not warrant that this calculator is free from error.
Both individual and spouse are UK domiciled
Individual is leaving less than 10% of Estate to charity*
Property value relates to a single property that should qualify for RNRB**
No downsizing of the property will take place
Current investments do not qualify for Business Property Relief
Current investments do not include any PETs
*(more than 10% would reduce IHT rate to 36%)
**(e.g. it is being left to direct descendants)
To email the results to yourself, please enter your details below. If you have any questions about how to use the calculator, please call us on 020 7391 4747 or email firstname.lastname@example.org
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