Inheritance Tax Planning Calculator 2024/25
Estimate UK inheritance tax (IHT) with full planning inputs: NRB (£325,000 per person), Residence Nil Rate Band (£175,000), transferable spousal allowances, 7-year gift taper relief, RNRB tapering for estates above £2M and the 36% charitable-donation rate.
IHT Planning Calculator
Key IHT Allowances 2024/25
The standard Nil Rate Band is £325,000 per person and has been frozen until at least April 2030. Married couples and civil partners can transfer unused NRB to the surviving spouse, giving a combined NRB of up to £650,000.
The Residence Nil Rate Band adds £175,000 (per person) when you leave your main home to direct descendants. For married couples this gives a combined tax-free threshold of £1,000,000 before any planning.
7-Year Gift Rule
Potentially Exempt Transfers (PETs) made more than 7 years before death are fully exempt from IHT. Gifts made 3–7 years before death attract taper relief. Gifts within 3 years use up the NRB before any tax is charged at 40%.