Inheritance tax calculator
Estimate the IHT liability on your estate based on current allowances.
Your estate
Allowances
IHT is charged at 40% on the value of the estate above the available allowances. The standard nil rate band is £325,000 per individual. The residence nil rate band (RNRB) of £175,000 per individual applies only where residential property is left to direct descendants such as children, stepchildren or grandchildren — it cannot be claimed where property passes to other beneficiaries. Where the married or civil partnership toggle is selected, this calculator assumes that 100% of the deceased spouse's or civil partner's nil rate band and residence nil rate band were unused and are available to transfer to the surviving partner — potentially doubling the combined threshold to £1,000,000. This will not always be the case; the amount transferable depends on the proportion of allowances used on the first death. Where the married or civil partnership toggle is selected, this calculator assumes that 100% of the deceased spouse's or civil partner's nil rate band and residence nil rate band were unused and are available to transfer to the surviving partner — potentially doubling the combined threshold to £1,000,000. This will not always be the case; the amount transferable depends on the proportion of allowances used on the first death. The RNRB reduces by £1 for every £2 that the net estate exceeds £2,000,000 — this taper is applied automatically by the calculator based on the estate value entered. No allowance is made for business property relief, agricultural property relief, gifts out of normal expenditure, potentially exempt transfers, or any other reliefs. This calculator provides an estimate only and does not constitute financial or legal advice. Individual circumstances vary significantly — please seek professional advice before making any decisions regarding your estate.