Cashflow modeller FinCalc bolts on IHT modeller



Cashflow and DB transfer software provider FinCalc has added an inheritance tax modeller for Financial Planners.

Data can be inputted into the modeller via the Client Portal or an integrated back-office system.

Fincalc said the new modeller would help Financial Planners to explain to clients the complexities of inheritance tax and the impact of IHT planning options.

The modeller can look at both first at second death at any age, providing charts and breakdowns with the ability to add and compare multiple planning scenarios.

Financial Planners can highlight a client’s tax liability as well as their estate distribution.

Jason Wykes, CEO at FinCalc, said: “Nothing in life is guaranteed but death and taxes, as we all know. IHT combines these two certainties and planning ahead of time for how to handle them can save a family a lot of grief in the future at a very sensitive moment while also conserving value for future generations. It has become very clear that IHT planning tools for advisers are scarce and our IHT modeller has been designed to help advisers solve these concerns for their clients.”

Fincalc’s new IHT modeller takes into account:

  • Married, single, widowed or un-married clients
  • Multiple planning options side by side with interactive charts
  • Past and future trusts & gifts, inherited allowances, PETs and CLTs
  • 7-year rule as well as the complexities of the 14-year rule
  • Nil Rate Band and Residence Nil Rate Band
  • Quick Succession Relief, Agricultural and Business Property Relief and many more
  • Growth on assets and investments over time including liabilities and equity release
  • Maximum IHT liability over the next 10 years (for life cover planning)

The modeller is fully branded and produces ‘client friendly’ reports.

FinCalc is the technology platform created by O&M Pension Solutions. O&M Pension Solutions was setup as a separate company in 2013 as part of the split of O&M Systems, and specialised in the TVC/TVA software and services market.