The inheritance tax threshold will be raised from 263,000 to 275,000 this year, rising to 285,000 next year and 300,000 the year after, said Chancellor Gordon Brown in his Budget speech today.
He said 94 per cent of UK estates will not be liable for IHT.
Rates will be frozen on capital gains tax, corporate taxation and insurance premium tax, announced Gordon Brown this afternoon.
The exemption amount for capital gains tax will increase from 8,200 to 8,500 a year.
The Chancellor said he would take action against double taxation relief and international arbitrage.