The Inheritance tax is a tax levied on the assets inherited from a person died. The rate of tax on inheritances depends upon the property value inherited by the heir or beneficiary and his/her relationship with the decedent. The below given is the inheritance tax formula which will help you to calculate the inheritance tax on your own. This estate tax formula provides you the individual formulas for calculating total assets, total liabilities, estate worth etc.
Just substitute the values demanded by the inheritance tax formula and do the necessary operations to get the result. Also, you can make use of the related calculator designed based on the IHT calculator to verify your results.