Buy-to-let, holiday homes, etc. Car, contents, jewellery, etc. 100% relief on the first £2.5m per person (£5m if transferring a deceased spouse's allowance); 50% relief on any excess. Value of any trust in which you hold a life interest — included in your estate for IHT. Mortgages, loans, credit cards, etc. Gifts to charity are exempt. If this is ≥ 10% of your net estate, IHT rate reduces to 36%. From April 2027, unspent pension funds inherited by anyone other than a spouse or civil partner will be subject to IHT. Pension funds left to a spouse or civil partner remain IHT-exempt. Gifts and transfers made within 7 years of death use up your nil-rate band before it is applied to your estate. Enter values above the £3,000 annual exemption already used. Gifts to individuals in the last 7 years, above the £3,000 annual exemption. Only chargeable if death occurs within 7 years; taper relief may apply after 3 years. Gifts into discretionary or relevant property trusts in the last 7 years, above the £3,000 annual exemption. These are immediately chargeable and reduce the NRB available to your estate. The Residence Nil-Rate Band (up to £175,000 per person; £350,000 if transferring a deceased spouse's allowance) applies to the value of your home passing directly to direct descendants. Enter the share of your home left to issue — or the full home value if leaving it all to them. Your situation
Your assets
Pension
Lifetime transfers (last 7 years)
Reliefs
If the figure is larger than you expected, the tax planning brochure from our associated firm, Mercian Accountants, sets out the fixed-price reports that deal with it. See our brochures.