Agriculture: Inheritance Tax
The question
To ask the Chancellor of the Exchequer, with reference to the Autumn Budget 2024, published on 30 October 2024, HC 295, what assessment has she made of the potential impact of changes to (a) inheritance tax, (b) agricultural property relief and (c) business property relief on the number of agricultural tenancies in Wales.
Answered by James Murray
The Government has published information about the reforms to agricultural property relief and business property relief at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
The Government takes into account all representations made ahead of the Budget, and meets with stakeholders on a regular basis.
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