"The next Conservative Government will take the family home out of inheritance tax."
David Cameron made this promise in April 2015: “You will be able to pass on up to £1ml, per couple, completely tax-free.”
“That home that you have worked and saved for belongs to you and your family. You should be able to pass it on to your children. And with the Conservatives, the taxman will not get his hands on it.”
From the Conservative manifesto: “We will take the family home out of tax by increasing the effective Inheritance Tax threshold for married couples and civil partners to £1 million – so you can keep more of your income and pass it on to future generations.”
Sky News reports that the Conservatives promised a £1m inheritance tax threshold in the 2010 election, but were blocked by Liberal Democrats from implementing it when in coalition.