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Conservatives pledge to abolish inheritance tax on family homes

The proposal would remove inheritance tax from family homes, with Badenoch saying the share of households paying the tax would drop by more than half from its current level of under 5%.

Reported · Written up by our desk · Trade & Tariffs

Kemi Badenoch, speaking at the Conservative party conference, said the party would abolish inheritance tax on family homes if it wins the next election, an announcement that drew criticism that it prioritizes tax cuts for wealthy voters. The Guardian Business reported that the plan is aimed at winning support from affluent middle class voters.

Badenoch also proposed that couples could leave an additional £1m tax free to their families. She said the changes would reduce the number of families paying inheritance tax, which she described as currently less than 5%, by more than a half.

The planned abolition would carry a £6bn cost, which Badenoch said would be funded through cuts the party has identified, including reductions to the welfare bill, according to The Guardian Business.

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