This Inheritance Tax Liability Calculator assumes that the beneficiaries numbered above have not received any gifts or inheritances under the respective Thresholds in the period from 5th December 1991 up to and including the date of the inheritance.
The calculator does not apply to spouses where a spouse exemption to inheritance exists.
The Group Thresholds applicable in this calculator are correct for the 2022 calendar year and may increase/decrease in the future.
The calculator does not take into account any of the reliefs/exemptions which may apply for inheritance tax purposes, for example Business Relief, Agricultural Relief or Family Home Exemption. Where the Family Home exemption applies, the market value of the dwelling house is completely exempt from inheritance tax.
Inheritance tax is due to be paid within 4 months of the Valuation date i.e. the date at which assets have been valued for inheritance tax purposes. If you are late paying the tax, interest will be charged from the valuation date.
The calculator is designed purely to give an indication as to the inheritance tax liability a beneficiary may incur. Inheritance tax calculations can be complex so clients should seek specialised taxation advice from a tax adviser.
The information contained herein is based on Zurich Life's understanding of current Revenue practice as at May 2023 and may change in the future.