Chancellor George Osborne's Budget is to confirm the end of inheritance tax on family homes worth up to £1m.

He is expected to tell MPs on Wednesday that the threshold at which the tax is levied will rise for couples from £650,000 after April 2017. Writing in The Times, PM David Cameron and Mr Osborne said those who worked for their homes should be able to pass them on to family members. The move fulfils a key pledge made in the Conservatives' election manifesto. Mr Cameron and Mr Osborne also unveiled housing measures to help people buy and build their own home.

'Only right'

The inheritance tax policy will be funded by limiting the amount of tax relief on pension contributions given to those earning more than £150,000 a year. In a joint article, Mr Cameron and Mr Osborne write: "As we promised in our manifesto, we'll take the family home out of inheritance tax for all but the richest." They add: "It can only be right that when you've worked hard to own your own home, it will go to your family and not the taxman."....Read more Here