This calculator is designed to help people find out whether
or not they may have an IHT problem. It should be placed
in context as a very rough guide, NOT an actual IHT calculator.
You may use whichever of the notes you see fit, or rewrite
them in your own style. We do however consider that for
the calculator to be compliant on your web site their
content should be easily accessible to the reader, though
they could be set inside Alerts, or Pop Up Notes window.
Calculator notes
Assumes Nil Rate Band of 250K
Tax rate is 40%
Valid for tax year 2002/03
Business Property Relief is very complex. Advice is
a must. This calculator assumes the special case that
you have control of a limited company (i.e. more than
50% of shares), or are a sole trader.
IHT should not be considered without taking into account
Capital Gains Tax. For example moving a business building
from personal to corporate ownership can remove it
from your estate, but doing so might trigger a Capital
Gains event and thus a tax bill today instead of some
time in the distant future.
