Wessex investment Management

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T: 0800 652 8455

E: advice@wessexim.co.uk

Inheritance Tax Calculator

A quick and easy way to calculate an Inheritance Tax (IHT) liability. The figures provided by this calculator are for illustrative purposes only. Calculations are only a guide and cannot be guaranteed. Actual figures will vary in individual circumstances.

Complete the information required and click the 'Calculate' button.

Estate assets

Property: main residence

Savings: current account/s, deposit account/s, premium bonds

Investments: shares/equities, unit trusts, investment trusts, ISAs, investment bonds

Other assets: cars, holiday home/s, antiques, jewellery, works of art, boat, gifts of capital made within the previous 7 years

Life insurance policies: policies not written in an appropriate trust

Are you married?

Yes

No

Estate liabilities

Mortgage:

Loans/overdrafts:

Credit cards:

Other liabilities: outstanding bills, hire purchase, funeral expenses

Estate summary

Total assets:

Liabilities:

Estate value:

Tax-free allowance: this allowance will remain the same for 2010-2015

Net worth:

Inheritance Tax bill:

Married couples and civil partners are allowed to pass their possessions and assets to each other tax-free and, since October 2007, the surviving partner is now allowed to use both tax-free allowances (providing one wasn't used at the first death).

Gifts made within the last seven years are not included in the calculations but may be liable to IHT on a sliding scale.

Calculations based upon the current understanding of HM Revenue & Customs practices and the values shown are dependent upon individual circumstances.

Results are for your general information and use only and are not intended to address your particular requirements. Results should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate results and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or couple should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of using this calculator. Thresholds, percentage rates and tax legislation may change in subsequent finance acts.

Head Office

The Wincombe Centre,
Wincombe Business Park,
Shaftesbury, SP7 9QJ

Tel: 01747 859 411
Fax: 0870 460 1279
Email: advice@wessexim.co.uk

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