The Chancellor has announced that the inheritance tax (IHT) threshold will be frozen for four years.

It means no IHT will be due on estates worth under 325,000 until April 2014. Tax at 40% is payable on assets above 325,000.

This is effectively a tax rise in real terms because of inflation, meaning more families will have to pay the tax over the next few years.

Further reading/Key links

IHT: Inheritance Tax guide

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IHT threshold frozen