Autumn Budget 24: Chancellor freezes IHT threshold for a further two years

As part of the £40bn tax raising Budget today (30 October), Reeves has extended the IHT threshold freeze for a further two years from 2028 to 2030. That means the first £325,000 of any estate can be inherited tax-free, rising to £500,000 if the estate includes a residence passed to direct descendants, and £1m when a tax-free allowance is passed to a surviving spouse or civil partner, she announced. Quilter tax and financial planning expert Rachael Griffin said the decision to continue the freeze on the IHT nil rate band (NRB) will pull many more estates into the IHT net. She said: ...