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Inheritance Tax Planning

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1
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Before you get started there are
some things that you need to know

  • This tool provides you with a projection of the potential outcome based on the information you include.
  • Any figures are for illustrative purposes only and do not constitute any form of advice or recommended course of action.
  • When making financial decisions, it is important to seek appropriate financial advice and the tools and information on this website should not be relied upon in place of such advice.
Get Started

About you

The first step to see if your estate will be affected by Inheritance Tax (IHT) is to calculate how much it is actually worth - you might be quite surprised! Don't forget, that this is not a static figure and your property and investments could increase in value, which, in turn, could increase your IHT liability. Also, it is based on current IHT rules which could change in the future. We will show you some examples of this, once you have calculated your estate.

Your Assets

Assets
Value

This is your current estimated liability, however your circumstances may change in the future.

IHT liability of 40%:
Calculate potential future liability

Calculate future liability

Now that you have calculated the value of your estate and your current Inheritance Tax bill, it’s important to think about your potential future liability. Complete the details below, to find out how the main residence nil rate band, which will be introduced in April 2017 may impact your liability.

Your future liability

Tax Year Main residence value Main residence nil rate band Remaining estate Nil rate band IHT liability
2019/2020
2020/2021
2021/2022
2022/2023
2023/2024
2024/2025
2029/2030
2034/2035
2039/2040
2044/2045

Take Action

Speak to a member of the Skipton team

Call us today on 0800 731 5342 or
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Read more about IHT planning

Follow this link to access more content
around IHT
IHT Planning

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