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Inheritance tax calculator

How it works

Everyone can leave up to £325,000 of their total estate free of inheritance tax (the nil-rate band), provided this allowance hasn’t been used when making gifts, for example, or settling assets into trust. 

A person’s estate is the sum of their savings, investments, the market value of the house they live in and their other assets. 

There’s an additional inheritance tax allowance to be aware of – the residence nil-rate band (RNRB).

Things to bear in mind

Inheritance tax can be a complicated topic and this calculator is intended to help you understand some of the key areas. It’s been prepared in good faith and is based on our understanding and interpretation of the current law. 

Keep in mind that specific circumstances that are outside of the scope of this calculator may result in different levels of inheritance tax being due. Also bear in mind that legislation may change in the future.

Assess your situation
How much is your house worth?
Other properties
Based on the estimated figures you have entered, this gives an estate value of:
House value: £ 0

Value of other assets: £ 0

Total estate value: £ 0

Your estate is worth more than £2 million.

The RNRB may be restricted or not available at all. For the purposes of this calculator, we have assumed that your estate will not benefit from the RNRB. We recommend you seek professional advice specific to your situation.

Your marital status
What is your marital status? ?
  • Married/Civil partnership

  • Widowed

  • Unmarried/Divorced

Assets left to spouses are not normally subject to inheritance tax. It may be useful for you to provide information for the value of your joint estate if you would expect to inherit all of your spouse's assets.

Did your spouse leave all their assets to you?



Did your spouse or civil partner use all of their nil-rate band? ?



How much did they leave unused?

Was the value of your spouse's estate more than £2 million when they died?



Warning icon

If your spouse's estate exceeded £2 million, your entitlement to an additional RNRB may be reduced, or even eliminated. We have assumed that your estate will not benefit from any additional RNRB from your spouse, but recommend that you seek professional advice as to your specific situation.

Plan for the future

Did you sell your home before 8 July 2015? Warning icon



Year by year results

The residence nil-rate band is £175,000.

The residence nil-rate band is £175,000.

Guide to inheritance tax

Our straightforward guide can help clients gain a better understanding of inheritance tax, and discover ways they can reduce inheritance tax liabilities. We’ve designed this guide specifically so you can share it with clients and walk them through their options.

Related inheritance tax resources

16 years of the Octopus Inheritance Tax Service

To say thank you to all our advisers and investors as we hit 16 years of the Service, we’re offering a promotion – 0% initial fee* until 10 September 2024.

*this offer is for advised investors only.

The Value Navigator series

We’re running a three-part webinar series, starting each Thursday from 11 July 2024, that will help you advise your clients and help you grow your estate planning business.

Contact our team

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Call us on 0800 316 2067