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MFI — Financial: Accounts (richer v4)
Springboard: 40-financial-accounts (pre-tax). Richer: all springboard cards preserved + enriched (current / savings / ISA / pension / investment), plus an additive sienna TAX track — a per-account IHT treatment line and an estate-level "in vs out of the estate" summary. Pensions are usually OUTSIDE the estate; ISAs are inside with a spousal APS; bank/savings count toward it. Each IHT claim carries the INHERIT trust chip.
Dashboard › Financial › Accounts
Financial accounts
Record your accounts so your executor knows where to look — and see how each one is treated for Inheritance Tax
Accounts
5
3 sole, 1 joint, 1 nominated
Total recorded value
~£212,500
Approximate, as entered by you
🧾 In the estate for IHT
~£78,500
savings, ISA, investment + half the joint
🧾 Outside the estate
~£134,000
pension (nominated) + joint survivorship half
🔒 Account numbers and balances are visible only to you. Your executor sees "5 accounts recorded" until post-death access is granted.
💡Tip
Joint accounts with Margaret pass automatically by survivorship — your executor doesn't need to claim them through probate. Sole accounts are frozen on notification of death until probate is granted. Your pension is usually outside your estate for Inheritance Tax and is paid out by nomination, not the will. Recording everything now means Sarah won't have to search for paperwork.
Your accounts · what we know
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Type a bank or provider name and we'll match it. Sort code and balance can come later.
🧾 What's in & out of the estate for tax
Total recorded value
~£212,500
across all 5 accounts
In the estate for IHT
~£78,500
savings + ISA + investment + bonds + half the joint
Outside the estate
~£134,000
pension (nominated) + joint survivorship half
IHT on the first death
£0
everything passes to Margaret — spouse exempt
~£78.5k in estate
~£134k outside
In the estate — savings, ISA, investment, Premium Bonds, half the joint account Outside — your pension (paid by nomination) and Margaret's survivorship half
Your pension is the single biggest pot here, and because it pays out by nomination it usually sits outside your estate — so it doesn't add to any Inheritance Tax bill. The cash, ISA and investment accounts are what count toward the estate total. computed against INHERIT · E&W Tax · reviewed: Stable
Account
IHT treatment
Counts in estate
Lloyds current (joint with Margaret)
½ in estate
~£2,100
Lloyds savings (sole)
In estate
~£18,300
Nationwide Cash ISA (sole)
In estate
~£32,000
Hargreaves Lansdown investment (sole)
In estate
~£15,000
NS&I Premium Bonds (sole)
In estate
£25,000
Aviva personal pension (nominated to Margaret)
Outside
£0
Lloyds current — Margaret's survivorship half
Outside
£0
In the estate for Inheritance Tax
INHERIT · E&W Tax · Stable
~£92,400
💲
Your pension is usually outside the estate
Tax track
Paid by nomination, not the will £0 IHT
A defined-contribution pension is normally held in trust by the provider, so on death it pays out to the person you have nominated — it does not pass through your will and usually does not count toward Inheritance Tax. Your £118,000 Aviva fund is nominated 100% to Margaret.
computed against INHERIT · E&W Tax · reviewed: Stable
⚠ Worth checking: keep the nomination current For action
Because the will doesn't control this pot, an out-of-date nomination is the main risk — it could send the fund to the wrong person. Review it after any big life change. The rules on pensions and IHT can change, so it's worth confirming with an adviser.
computed against INHERIT · E&W Tax · reviewed: Stable
🏦
Cash, ISA & investments count toward the estate
Tax track
ISA: tax-free in life, in the estate on death Spousal APS
An ISA shelters Income and Capital Gains Tax while you're alive, but its value is still part of your estate for Inheritance Tax. The good news: Margaret can claim an Additional Permitted Subscription — an extra one-off ISA allowance equal to your £32,000 balance — so the money keeps its tax-free wrapper with her.
computed against INHERIT · E&W Tax · reviewed: Stable
Savings, bonds & investments In estate
Your Lloyds savings, NS&I Premium Bonds and Hargreaves Lansdown investment are all in your sole name, so their full value sits in your estate. On the first death the spouse exemption means no tax is due now — but it's part of the picture for later planning.
computed against INHERIT · E&W Tax · reviewed: Stable
🧾
What your accounts mean for Inheritance Tax
Tax track
In short: about £92,400 of your accounts counts toward your estate for Inheritance Tax; your £118,000 pension and Margaret's survivorship share fall outside it. On the first death the spouse exemption means no tax is payable now — but how the pension is nominated and how the home and savings are left both shape the second death. A tax adviser can model that while there's room to act.
We can match you to a regulated tax adviser (STEP / CIOT) for your estate. computed against INHERIT · E&W Tax · reviewed: Stable
Balances and account details are as entered by you and are approximate. Tax figures are estimates computed from your recorded accounts against the open INHERIT standard's England & Wales tax rules (status: Stable, reviewed by a named reviewer) — they are guidance, not tax advice. Pension and ISA treatment depends on provider rules and on keeping nominations current; rules can change. MyFamilyInherits does not provide legal or tax advice; advisers shown are independently regulated (SRA / CIOT / STEP). You will never be charged automatically.