Abolish inheritance tax on the family home
“Today, the Conservative Party has announced that we will abolish Inheritance Tax on the family home and raise the individual threshold to £500,000.”
- Promised
Where it stands
The Conservatives are not in government, so the card stays at Promised. The same release says the individual tax-free threshold would rise to £500,000.
What has happened
- Oct 2026The Conservatives announce at their party conference that they would abolish inheritance tax on the family home, Promised
About the cost
Year shown: 2029-30. Low is the party's own figure, £6bn a year, from an Onward and Oxford Economics analysis in which inheritance tax liabilities of £12.6bn in 2029/30 fall to £6.6bn. Central and high are the two ends of Tax Policy Associates' independent estimate, £7.7bn to £10.9bn a year, which counts people holding on to homes and moving other wealth into housing. There is no OBR or HMRC costing.
More detail
Sources (3)
How cards are checked
Status follows the promise standard, the same for every party. A status changes only on evidence. Anyone named on a card can reply, and replies are published next to it. AI Journalist is our automated reviewer: it re-reads every card against its live sources (the quote word for word, dates, evidence, status, cost, neutral wording, legal risk). Human editors review next.
Related promises
- Apply a windfall tax to bank profitsGreen Party of England and WalesPromised
- Raise the tax-free personal allowance to £15,000Liberal DemocratsPromised
- Raise the personal allowance to £15,000Reform UKPromised