Understanding inheritance tax (IHT) on death

For financial advisers only

On completion of this module you should be able to:

  1. determine the value of an estate on death
  2. calculate the amount of available IHT nil rate band on death
  3. explain what releifs may be available

Introduction

Inheritance tax can severely impact what can be passed on to future generations. But with the right planning the effect of IHT can be minimised. It is therefore essential for adviser when considering wealth transfer to understand what IHT may be payable in the event of death.

This module should take around 1 hour to complete. It includes a short self -assessment quiz to check what you have learned and a 60 minutes CII/PFS accredited CPD certificate can be claimed.

This module covers what is included in someone’s estate on death, how to determine the available nil rate band and when reliefs may reduce the tax payable. It outlines the reporting and IHT payment requirements.

Please read our Technical Guide – IHT on death before attempting the self-assessment questions.