Agriculture: Inheritance Tax
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of proposed business property relief changes on small family businesses.
Answered by James Murray
At Autumn Budget 2024, the Government took a number of difficult but necessary decisions on tax, welfare, and spending to restore economic stability, fix the public finances, and support public services.
The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →