Tories pledge inheritance tax cut for millions
‘David Cameron has announced a radical plan to cut inheritance tax, with a landmark election promise to protect millions of family homes from the “death duty”.
The Prime Minister is setting out reforms which will mean parents and grandparents can leave their homes and other assets worth up to £1 million entirely tax-free to younger generations.
At present, an estate worth £1 million is liable for an inheritance tax bill of £140,000.
The plan, which would take effect in 2017, honours a long-standing Conservative promise to cut inheritance tax, which Tories say has been blocked by the Liberal Democrats in Coalition.’
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