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Who pays inheritance tax now?
Inheritance tax currently affects a small proportion of estates, around 4% in 2023. The tax is levied on the value of an estate above the threshold, which is £325,000 for individuals. This proposal aims to reduce that number further by significantly increasing the tax-free allowance, particularly for family homes.
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Badenoch pledges to scrap inheritance tax on family homesRelated explainers
How much tax revenue is at stake? How does UK tax compare? How much could I save? What are the wider effects? No more inheritance tax? Who pays for lost tax revenue? Who pays income tax? What is Capital Gains Tax?The full catalogue
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