What your estate could pay – on the first and second death – and how to reduce it
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Inheritance tax (IHT) is charged at 40% on the part of an estate above the tax-free bands. Since April 2026 business and farm reliefs have been capped, and from 6 April 2027 most unused pensions will count as part of the estate too – so far more families are now in scope. This workbook estimates how much IHT could be due, when it has to be paid, who ends up with what, and how much common planning steps could save. It is a planning tool for conversations with your family and your advisers – not a substitute for advice.
See how it works
The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.
Step 1
All the inputs: you, your wills, late-spouse allowances, assets and debts. What you do: fill in every yellow cell that applies to you.
Step 2
Gifts in the 7 years before each death, the nil-rate band they use and any tax on them. What you do: one line per gift.
Step 3
Step-by-step workings for the first and the second (or only) death. What you do: nothing to enter – use it to see exactly how each figure is reached.
Step 4
Six planning levers tested one at a time and all together. What you do: change the yellow lever amounts and Yes/No switches.
Who it is for
Quick start
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