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How much could you save?
Enter your current personal protection premium, tax rates, and the calculator will provide the potential savings by moving to a relevant life plan.
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IHT Calculator
Inheritance Tax Calculator
Get a straightforward indication of potential Inheritance Tax, then see how unused pension savings could change the picture from 6 April 2027. You do not need to know tax jargon to use this.
From 6 April 2027, pension savings may matter more.
Most unused pension savings and some pension death payments will be counted when working out Inheritance Tax. This calculator shows a simple comparison before and after that change.
Inheritance Tax explained in plain English
The calculator gives a simple estimate. These short explanations set out the main rules it uses and answer common questions about gifts, homes and pension savings.
What is Inheritance Tax?
Inheritance Tax is a tax that may be due when someone dies. It is normally charged at 40% on the part of an estate above the available tax free allowances. Reliefs and exemptions can change the final position.
What is the £325,000 allowance?
The first £325,000 of an estate is normally tax free. This is often called the basic nil rate band. Relevant gifts made in the seven years before death can use up some or all of this allowance.
When can the home allowance apply?
There can be an extra allowance of up to £175,000 when a qualifying home passes directly to children or grandchildren. It may be reduced for estates worth more than £2 million.
How do pensions change from 6 April 2027?
Most unused pension pots and some pension death payments will be included when Inheritance Tax is worked out. Benefits passing to a spouse, civil partner or qualifying charity are generally exempt.
Common Inheritance Tax questions
Do gifts affect Inheritance Tax?
They can. Some gifts are exempt, but relevant gifts made within seven years of death can affect the basic £325,000 allowance. Keep a record of the value, date and recipient.
Who is a non exempt pension beneficiary?
It usually means someone receiving pension money who is not a surviving spouse or civil partner, and is not a qualifying charity. This may include adult children, grandchildren, other relatives or friends.
What is a DC pension?
DC means defined contribution. It is a pension pot with a value, such as a workplace pension, SIPP or drawdown fund, that has not yet been fully used.
Is this an exact tax calculation?
No. It is a starting point for common UK estate scenarios. A qualified adviser can check gifts, trusts, reliefs, pension scheme rules and other details that may change the outcome.
GOV.UK: How Inheritance Tax works | GOV.UK: Gifts and the 7 year rule | GOV.UK: Pension IHT technical note
Your illustrative IHT estimate
Before 6 April 2027
Does not include the pension savings you entered.
From 6 April 2027
Includes the qualifying pension savings you entered.
How the estimate is built
The calculator uses the basic £325,000 allowance, any qualifying home allowance and the details you entered. It applies the normal 40% rate to the remaining estimated taxable amount. A lower 36% rate can apply in some charity cases, but is not included in this simple estimate.
A simple £1 million example
If there is no qualifying home allowance, no transferred allowance and no gifts using the basic allowance:
Important information
This is a guide for common UK estate scenarios, not an IHT return or personal tax calculation. It does not calculate all gifts, gift tax, taper relief, trusts, business or agricultural relief, overseas issues, pension scheme rules, probate costs or a beneficiary’s actual income tax. Talk to a Broadbench adviser or qualified tax professional before making decisions.
Rates used in this illustration: basic allowance £325,000 and a maximum home allowance of £175,000. The home allowance is only available in qualifying circumstances and may reduce for estates over £2 million. Tax rules and thresholds can change.
Read GOV.UK guidance on gifts and the 7 year rule · Read the Government pension IHT technical note · Read the Government IHT overview
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Our calculators are designed to provide guidance only. Speak to one of our expert advisers to get precise figures based on your individual circumstances and unique requirements.
All statements concerning the tax treatment of products and their benefits are based on our understanding of current tax law and HM Revenue and Customs’ practice. Levels and bases of tax relief are subject to change.