The Inheritance tab estimates what Inheritance Tax your estate might owe, applying the nil-rate band and residence nil-rate band.
The Inheritance tab estimates how much Inheritance Tax your estate might owe when you die, and how much would pass to your heirs. Most of it is calculated from the assets you've already entered, but you can refine the details here — whether you have a spouse, whether your home passes to your children, and any unused allowances from a late partner. Inheritance Tax has two main allowances: the nil-rate band, and an extra residence nil-rate band if you leave your home to direct descendants. To reduce the tax, you can model gifts and charitable legacies on the Events tab, and see the effect here. For a well-funded plan, this is where you see how much of your estate could go to tax rather than to your family.