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