In this guide

What is Inheritance Tax?

Inheritance Tax is assessed by reference to the value of assets and certain transfers. The estate’s executor or administrator normally deals with the reporting and payment process.

Gifts and reliefs

Lifetime gifts, exemptions and reliefs can affect the calculation. Keep dates, values, recipients and supporting records for significant gifts.

Estate records

  • List property, investments, bank accounts and personal assets.
  • Record liabilities and funeral expenses where relevant.
  • Keep details of gifts and trust interests.
  • Check the current reporting and payment deadlines.

Official sources

Rates and deadlines can change. Use these links to check a rate, deadline or eligibility rule.

Need help organising estate records?

We can discuss the accounting information needed for an estate. Specialist legal advice may also be required.

Send an estate enquiry