Inheritance tax calculator
Inheritance tax (IHT) is payable on the value of your estate when you die where it exceeds the nil rate band. When planning to reduce your estate through gifts and other arrangements it’s helpful to know your and your spouse’s exposure to IHT.
How to use the calculator
Our calculator works out the IHT liabilities for you and your spouse based on the current value of your estates. It takes account of the lower tax rate which can apply where you make gifts to charity. You can use estimated future values for your assets and liabilities to project your IHT position.
Related Topics
-
Invoice factoring: how do you account for VAT?
Invoice (debt) factoring is a service that businesses with cash-flow problems might consider. Broadly, it means obtaining finance secured against the value of unpaid invoices. What does this involve in practice, and does it create a VAT headache?
-
Latest “one-to-many” campaign targets rollover relief claimants
HMRC’s “one-to-many” campaigns involve it sending “nudge” letters to specific groups of taxpayers that have been identified as meeting certain criteria. The latest campaign is aimed at those who claimed rollover relief for business assets in 2020/21. Why is this being looked at now, and what can you do if you're affected?
-
Tax breaks for renting a room
Rent-a-room relief allows you to receive rent of up to £7,500 per year from letting part of your home. However, it doesn’t always work to your advantage. When should you consider disclaiming the relief?