Inheritance Tax Calculator

Estimate the value of an estate and the tax likely to be payable.

HETTS SOLICITORS

11 Wells Street, Scunthorpe, DN15 6HW | 01724 843 287

1. The Estate Assets

Open market value of the main home.
Total cash and ISAs (ISAs are IHT taxable).
Stocks, shares, bonds, unit trusts.
Cars, jewellery, personal loans owed.
+ Add Business, Farm, or Trust Assets
Note: Enter the value eligible for Business Property Relief (BPR) or Agricultural Property Relief (APR). This calculator assumes 100% relief applies.
AIM shares, sole trader business, agricultural land.
Assets held in trust (Interest in Possession).

2. Liabilities (Debts)

Secured against the properties above.
Loans, cards, bills, and funeral expenses.

3. Gifts & History

Did they make gifts in the 7 years before death?
Do Not Apply Taper Relief Here
Enter the FULL original value. Taper relief reduces tax for the recipient, but the full value still uses up the estate's tax-free allowance.
Sum of gifts >£3,000/year made in the 7 years prior to death.

4. Exemptions (Who inherits?)

Assets passing to a UK spouse are 100% exempt.
If >10% of net estate is donated, tax rate drops to 36%.

5. The Family Home Allowance

Includes step-children and foster children.
+ Add "Downsizing Allowance" (If home was sold)
If a more expensive home was sold after July 2015, enter the lost allowance value here.
+ Transfer from Pre-Deceased Spouse

If the deceased was widowed, they may inherit unused tax bands.

Enter 100 if previous spouse left everything to the deceased.
Enter 100 if previous spouse didn't use their home allowance.

Calculation Summary

Gross Assets £0
less Liabilities & Reliefs - £0
(Net Estate Value: £0)
less Exemptions (Spouse/Charity) - £0
less Standard Nil Rate Band - £325,000
less Residence Band (RNRB) - £0
Estimated IHT (40%) £0

* This is an estimate based on information provided. Complex estates require professional advice.

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Why Choose Hetts for Probate?

01

Specialist Knowledge

Inheritance Tax law is complex. Our dedicated Private Client team specialises in high-value estates, trusts, and tax-efficient planning.

02

Compassionate Service

We understand that dealing with legal matters after a bereavement is difficult. We handle the process with sensitivity and care, removing the administrative burden.

03

Transparent Costs

We offer clear, fixed-fee quotes for Grant of Probate applications and estate administration. No hidden costs, just honest legal advice.

Our Private Client Services

Wills & Estate Planning

Drafting tax-efficient Wills to ensure your assets pass to your chosen beneficiaries exactly as you intend.

Probate Administration

Handling the entire process of collecting assets, paying liabilities (including IHT), and distributing the estate.

Trusts & Asset Protection

Setting up and managing trusts to protect family assets for future generations or vulnerable beneficiaries.

Powers of Attorney

Appointing trusted individuals to make decisions on your behalf regarding your finances and health if you lose capacity.

Contact Us

Discuss your Inheritance Tax situation or Probate requirements with us today.

Address

11 Wells Street
Scunthorpe
North Lincolnshire, DN15 6HW

Call Us

+44 1724 843 287

Email Us

nbeech@hetts.co.uk

Open Hours

Monday - Friday

9:00AM - 5:15PM