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).

By filling in the boxes below, our calculator will estimate the degree to which the RNRB may be of benefit – and therefore gives some indication of the inheritance tax due on the estate.

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.

1
Assess your situation
How much is your house worth?
?
Other properties
?
Savings
?
Investments
?
Other
?
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

As your estate is worth more than £2 million, the RNRB may be restricted or not available at all. We have assumed that your estate will not benefit from any additional RNRB, but recommend that you seek professional advice specific to your situation.

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2
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?

Yes

No

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

Yes

No

How much did they leave unused?

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

Yes

No

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.

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3
Plan for the future

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

Yes

No

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4
Year by year results

Select one of the two buttons below to see how the residence nil-rate band might apply to your situation. The calculator assumes that you die in the tax year which is checked below.

The residence nil-rate band is £175,000 for the 2020/2021 tax year. Beginning in the 2021/2022 tax year, it will increase every year in line with inflation, as measured by the Consumer Price Index.

Select one of the two buttons below to see how the residence nil-rate band might apply to your situation. The calculator assumes that you die in the tax year which is checked below.

The residence nil-rate band is £175,000 for the 2020/2021 tax year. Beginning in the 2021/2022 tax year, it will increase every year in line with inflation, as measured by the Consumer Price Index.

2020 and beyond

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.

Contact our team

Got a question?
Call us on 0800 316 2067