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| Discounted value of gift into trust | ||
| Available nil rate band | ||
| Taxable amount | ||
| Immediate tax due (grossed up) |
| Assumed nil rate band at time of death | ||
| Available nil rate band at time of death | ||
| Tax due | ||
| Rate of taper relief | ||
| Amount of taper relief | ||
| Tax already paid | ||
| Tax balance due |
| Assumed nil rate band at time of charge | ||
| Discounted value of trust fund at time of charge | ||
| Chargeable rate | ||
| Periodic tax due |
| Assumed nil rate band at time of charge | ||
| Discounted value of trust fund at time of charge | ||
| Chargeable rate | ||
| Periodic tax due |
| Assumed nil rate band at time of distribution | ||
| Amount of distribution | ||
| Chargeable rate | ||
| Exit tax due |
| Assumed nil rate band at time of distribution | ||
| Value of total fund at time of distribution | ||
| Chargeable rate | ||
| Exit tax due |
| Assumed nil rate band | ||
| Available nil rate band | ||
| Tax charge | ||
| Rate of taper relief | ||
| Amount of taper relief | ||
| Tax due |
| Amount of gift into: | Discretionary | Absolute | Maximum gift into discretionary |
|---|---|---|---|
| To avoid an immediate tax charge | |||
| To avoid immediate and 10-year periodic charge | |||
| To avoid immediate, 10 and 20-year periodic charges |
| Net amount of gift into trust | ||
| Available nil rate band | ||
| Taxable amount | ||
| Immediate tax due (grossed up) |
| Assumed nil rate band at time of death | ||
| Tax due | ||
| Rate of taper relief | ||
| Amount of taper relief | ||
| Tax already paid | ||
| Tax balance due |
| Assumed nil rate band at time of charge | ||
| Value of trust fund at time of charge | ||
| Aggregate chargeable transfer | ||
| Chargeable rate | ||
| Periodic tax due |
| Assumed nil rate band at time of charge | ||
| Value of trust fund at time of charge | ||
| Aggregate chargeable transfer | ||
| Chargeable rate | ||
| Periodic tax due |
| Assumed nil rate band at time of distribution | ||
| Value of trust fund at time of last periodic charge | ||
| Aggregate chargeable transfer | ||
| Chargeable rate | ||
| Exit tax due |
| Assumed nil rate band at time of distribution | ||
| Value of total fund at time of distribution | ||
| Value of trust fund at time of last periodic charge | ||
| Aggregate chargeable transfer | ||
| Chargeable rate | ||
| Exit tax due |
| Assumed nil rate band | ||
| Available nil rate band | ||
| Tax charge | ||
| Rate of taper relief | ||
| Amount of taper relief | ||
| Tax due |
| Amount of gift into: | Discretionary | Absolute | Maximum gift into discretionary |
|---|---|---|---|
| To avoid an immediate tax charge | |||
| To avoid immediate and 10-year periodic charge | |||
| To avoid immediate, 10 and 20-year periodic charges |
| Periodic tax charge after 10 years | ||
|---|---|---|
| Assumed nil rate band at time of charge | ||
| Value of trust fund at time of charge | ||
| Value of total fund at time of charge | ||
| Amount of loan outstanding at time of charge | ||
| Aggregate chargeable transfer | ||
| Chargeable rate | ||
| Periodic tax due | ||
| Periodic tax charge after 20 years | ||
|---|---|---|
| Assumed nil rate band at time of charge | ||
| Value of trust fund at time of charge | ||
| Value of total fund at time of charge | ||
| Amount of loan outstanding at time of charge | ||
| Aggregate chargeable transfer | ||
| Chargeable rate | ||
| Periodic tax due | ||
| Exit charge on Capital Distributions | ||
|---|---|---|
| Assumed nil rate band at time of distribution | ||
| Value of total fund at time of last periodic charge | ||
| Amount of loan outstanding at time of last periodic charge | ||
| Value of trust fund at time of last periodic charge | ||
| Aggregate chargeable transfer | ||
| Chargeable rate | ||
| Exit tax due | ||
| Exit charge where the whole trust fund is distributed | ||
|---|---|---|
| Assumed nil rate band at time of distribution | ||
| Value of total fund at time of distribution | ||
| Value of total fund at time of last periodic charge | ||
| Value of trust fund at time of last periodic charge | ||
| Aggregate chargeable transfer | ||
| Chargeable rate | ||
| Amount of loan outstanding at time of distribution | ||
| Value of trust fund at time of distribution | ||
| Exit tax due | ||
For more information on trusts and tax, please see "Inheritance tax planning - Adviser guide" (IHTB10026) which is available on www.pruadviser.co.uk or through your usual Prudential contact.
This calculator is designed to provide a basic indication of a potential inheritance tax liability on either a discretionary trust; a discretionary Discounted Gift Trust; or a discretionary Loan trust. It does not take into account all the possible individual circumstances that may impact on the tax position, nor does it include the value of the rest of a person's estate. It should not be taken as offering advice or any recommendation. Circumstances in the future may change an inheritance tax position. Every care has been taken as to the accuracy of the calculator, but it must be appreciated that neither M&G plc nor its representatives can accept any responsibility for loss, however caused, suffered by any person who has acted or refrained from acting as a result of material contained in this calculator. This specification is based on our understanding, of current taxation, legislation and HM Revenue & Customs (HMRC) practice, all of which may change without notice.
Taper Relief reduces the IHT due on transfers made more than 3 years before death - where tax would be payable in respect of that transfter. It is important to appreciate that taper relief is only available where the lifetime transfer exceeds the available nil rate band.