Nunn Hayward - Inheritance Tax Calculator

If married or in a civil partnership please enter the totals for assets held by both parties

Summary of Assets (Enter the Market Values)	Notes	Amount	Summary of Liabilties	Amount
Assets where Tax may not be paid by instalments
Stocks and Shares - Quoted	1		Mortgages
Stocks and Shares - Unquoted	1		Loans
Premium Bonds			Other Debts
Bank/Building Society Accounts
Other Savings Accounts
Cash in Hand			Other Exemptions
Debts owed to you			Bequests to Charity
Life Insurance Policies	6
Personal Pension Plans
Household/Personal Effects
Interests in Trusts or Estates	1
Potential Inheritances

Assets where Tax may be paid by instalments	5
Main Residence
Other Residencies/Land/Property	1
Business Interests	1
Other Assets

Total sum of Estate(s)
Less: Nil rate band for 2008/2009 (x 2 for couples)
Taxable Estate(s)
Inheritance Tax Due at 40% Broadly payable 6 months after death (or second death for couples)

Notes

For the purposes of this illustration these figures should ignore Business/Agricultural property relief.

The illustration assumes that the individual and their spouse or civil partner are UK Domiciled and liable to IHT on their Worldwide Assets.

The illustration assumes that no previous Transfers of value have taken place.

The illustration assumes for married couples and civil partners that all assets will be left to the surviving party.

Tax due on Real estate assets can be paid in 10 yearly instalments as long as the asset is held. If the asset is sold, the balance of IHT becomes payable.

Except where being paid by instalments IHT is payable before probate will be granted.

Reference to two Nil Rate Bands for couples is in accordance with the Pre Budget Report announcement effective from 9 October 2007.

This illustration is for the exclusive use of Visitors to the Nunn Hayward Web site. However no responsibility for loss occasioned to any person acting or refraining from acting as a result of the material contained in this report can be accepted by NUNN HAYWARD.

If you would like to receive professional advice concerning this or other items included in our web site please contact Stephen Cook on 01753 888211 or alternatively e-mail me at steve@nunn-hayward.com.

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