Tories in £2m inheritance pledge

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The Daily Telegraph said the new limit would come about because couples would be entitled to a £1 million allowance per person, transferable to the surviving partner after their death.

Last year shadow chancellor George Osborne proposed raising the inheritance tax at the Conservative Party's annual conference.

To loud cheers and applause from the party faithful he said: "The next Conservative government will raise the inheritance tax threshold to £1 million.

The threshold for couples was later increased by Chancellor Alistair Darling from £300,000 to £600,000.

An article published in the Telegraph claimed the Tory leadership had avoided publicising the fact the the £1 million allowance would be transferable over concerns it could focus further attention on the party's economic plans.

The paper reported that a retired financial adviser, Mr Scott-Hopkins, had wrote to Theresa May, shadow leader of the House of Commons, asking how Tory tax plans would affect married couples.

She is said to have replied saying: "I am happy to confirm that our inheritance tax proposal will introduce a threshold of £1 million per person (not per couple). This means that it would be possible for a married couple to enjoy a threshold of £2 million."

The paper said 44,000 estates paid inheritance tax in 2007/08. But following several years of rising house prices, many family estates had been taken over the present £600,000 limit.

The Tory plan would mean that all but a few extremely wealthy people would be taken out of the inheritance tax system altogether, the report claimed.