Treasury Minister David Gauke MP has confirmed to parliament that the new Conservative government will introduce a transferable main residence allowance of GBP175,000 per individual, in addition to the existing nil-rate band. This will 'take the family home out of inheritance tax for all but the richest', he claims. The government will also conduct a review of how deeds of variation are used for tax purposes, with a report due in the autumn.
Conservative Party confirms election campaign promises on Inheritance Tax
Treasury Minister David Gauke MP has confirmed to parliament that the new Conservative government will introduce a transferable main residence allowance of GBP175,000 per individual, in addition to the existing nil-rate band. This will 'take the family home out of inheritance tax for all but the richest', he claims. The government will also conduct a review of how deeds of variation are used for tax purposes, with a report due in the autumn.
