George Osborne has confirmed the inheritance tax (IHT) threshold will increase to £1m for couples funded by a pension tax relief cut for people earning more than £150,000.
Osborne said the threshold at which the IHT is levied will rise for couples from £650,000 after April 2017. Currently, IHT applies at 40% on estates above a tax-free allowance of £325,000 per person....
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