Kemi Badenoch has pledged that nobody would pay inheritance tax on their family home under a Conservative government, and that couples would be allowed to pass on an additional £1m tax free.
The Conservative leader made the commitment today in an hour-long speech to her party’s conference in Birmingham, in which she promised to cut “every inheritance tax bill”.
Under the current rules, qualifying estates can pass on up to £500,000, and the qualifying estate of a surviving spouse or civil partner up to £1m, without an inheritance tax liability, according to HM Revenue & Customs. Those thresholds are fixed until the end of the 2029 to 2030 tax year.
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