Part of the debate – in the House of Lords at 2:58 pm on 17 November 2025.
Lord Livermore
The Financial Secretary to the Treasury
2:58,
17 November 2025
As I say, given that all the normal nil-rate bands will continue to apply, an estate can pass on up to £1 million with no inheritance tax. If you are leaving £1 million, you probably have the cash to pay the tax.