Estimate Your Inheritance Tax – UK IHT Calculator by Kingsmarque Wealth Management

Assumptions & Important Information

1. It is assumed that the main residence passes to direct descendants, meaning the Residence Nil Rate Band (RNRB) can be applied. Where the estate exceeds the taper threshold, the RNRB is reduced by £1 for every £2 above that limit.
2. For couples, calculations assume all assets either transfer to the surviving partner on first death or are jointly owned, and therefore included in the survivor’s estate on second death.
3. All property is assumed to be held as joint tenants for the purpose of applying the RNRB.
4. The calculation does not include any additional nil‑rate bands that may apply in specific circumstances, such as where a previous spouse or civil partner has died.
5. Reduced inheritance tax rates—for example, where part of the estate is left to charity or for national purposes—are not factored into this calculation.
6. Lifetime gifts that may reduce the available nil‑rate band are not included.
7. For couples, it is assumed both individuals are married or in a civil partnership and are UK‑domiciled.
8. Pension funds and other death‑benefit payments that fall outside the estate are excluded from the calculation.

This tool provides an indication of potential inheritance tax exposure based on the information entered. It is not a precise tax calculation, and personalised professional advice should be sought where appropriate.

Tax rules, thresholds and reliefs can change, and the impact of any tax relief will depend on individual circumstances.

Future exemptions or planning opportunities that may become available are not considered in this calculation.

Please note: Trusts are not regulated by the Financial Conduct Authority.