Inheritance Tax Saving Calculator
Calculate your potential inheritance tax liability and explore ways to reduce it. Plan ahead to maximize what you pass on to your beneficiaries.
Step 1: Estate Details
Understanding Estate Value
Your estate includes everything you own: property, savings, investments, possessions, and any other assets. Debts and liabilities are subtracted from this total.
Step 2: Tax Details
About Inheritance Tax
Inheritance tax is paid on an estate when someone dies. The standard rate is 40% on anything above the tax-free threshold. Proper planning can significantly reduce this liability.
Inheritance Tax Calculation Results
Estimated Inheritance Tax Liability
Tax Saving Strategies Comparison
| Strategy | Tax Liability | Beneficiaries Receive | Savings | Complexity |
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Inheritance Tax Breakdown
Inheritance Tax Formula
Tax = (Estate Value – Allowances) × 40%
Inheritance tax is calculated by subtracting all applicable allowances (nil-rate band, residence nil-rate band, gifts, charity donations) from the total estate value, then applying the 40% tax rate to the remaining amount.
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