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PBR 2009: IHT threshold frozen until 2011

9 December 2009

The chancellor has opted to freeze the inheritance tax (IHT) rate at £325,000 until 2011.

Speaking during his Pre-Budget Report, Chancellor Darling said: ‘I believe it is right that parents should be able to pass on savings to their children. Before the financial crisis rocked the global economy, I enabled married couples to combine their inheritance tax allowances – and this will continue.'

The chancellor argued that he didn’t believe that raising the IHT allowance can be a priority, given the impact of the downturn on the country’s finances.

Jennifer Lowe

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