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Budget 2014: Osborne waives inheritance tax for emergency workers

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Budget 2014: Osborne waives inheritance tax for emergency workers

Chancellor George Osborne has waived inheritance tax for people working in the emergency services.

He said in his Budget speech that he would waive inheritance tax 'for those who give their lives protecting us’.

The current rate of inheritance tax is 40% on the value of an estate above the nil-rate amount of £325,000.

In an attempt to help emergency services, Osborne (pictured) also said he would  relieve the VAT on fuel for Air Ambulances and Inshore Rescue boat services across Britain, and provide a new air ambulance for London.

In a related announcement, Osborne said he would continue to direct the proceeds from Libor fines to military charities.

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