NOTES:

1. The information you have input will be used to calculate the IHT payable on death. This calculator may not take into account all of your assets and is intended only as a guide with an estimated IHT liability. The actual IHT may be higher or lower than is shown and it is important that you speak to a financial advisor to discuss your own requirements and circumstances.

2. This calculator is based on our current understanding of law in England and Wales and HMRC practice but these may be subject to change or interpretation.

3. If the final two results show £0, you will not be subject to any Inheritance Tax.

Important: The results from this calculator should be used as a guide only, and it is strongly advised that you should consult an experienced or qualified accountant or financial/business adviser before making any decisions.

Value of a Business – it has been assumed that no IHT is payable on the value of a business as, in many cases, the value attributed to an interest in a business is free of IHT under the Business Property rules. The value of your business and the extent to which it should be included in your estate for IHT purposes requires careful consideration and an understanding of tax law. Please contact us for advice.

Life Policies - it has been assumed that the value of your life policies is subject to IHT although this may not be the case particularly if the policies are written in trust. Please contact us for advice.

Pension Funds – it has been assumed that the value of your Pension Funds is not subject to IHT but you should speak to a financial advisor to discuss your own circumstances.

Spouse/Civil Partner - if you leave your entire estate to your spouse, there will be no Inheritance Tax to pay on your death.

If you are the surviving partner of a marriage or civil partnership, the amount of your IHT liability will be affected by an announcement made by the Chancellor of the Exchequer in his Pre Budget Report on 9 October 2007 when he said: "A transfer of unused nil-rate band from a deceased spouse or civil partner (no matter what the date of their death) may be made to the estate of their surviving spouse or civil partner who dies on or after 9 October 2007". Please check with us as to how this affects you.