In Emmbrook on Saturday I was asked if the Conservatives would renew their pledge to raise the threshold for Inheritance Tax. I said I did expect some reduction in Inheritance Tax to figure in the Manifesto to be launched on tuesday, but we would need to check the detail when the manifesto was published.
It is now widely expected that everyone will be offered an increase in their IHT threshold to £500,000 from £325,000 where they wish to pass on the family home, giving a couple a total allowance of up to £1 million.
Conservatives were not able to implement a higher threshold in the last Parliament because Lib Dems did not support the policy and would not vote for it. Lib Dems and Labour still disagree with this policy, so it will require a Conservative majority government to put it through.
Published and promoted by Thomas Puddy for John Redwood, both at 30 Rose Street Wokingham RG40 1XU