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.



Client Details
Existing investments
Amount
Growth rate assumption
Estate value £0
£0

Nil Rate Bands (NRB)
Nil Rate Bands


For further information on NRBs and the qualifying criteria for these please visit  Gov.uk

View Potential Tax Savings from Business Relief

View Potential Tax Savings from Business Relief


See the impact that investing in a Business Relief service could have on your clients' IHT liability.

Business relief investments
Amount
Growth rate assumption

Any questions? Call our team on 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. 


Assumptions

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)