Agriculture: Kent
The question
To ask the Chancellor of the Exchequer, how many farms were subject to inheritance tax in Faversham and Mid Kent constituency in the (a) 2019-20, (b) 2020-21 and (c) 2021-22 financial year.
Answered by James Murray
Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who’s died. Farmland and farming assets are not the unit of taxation, although some taxpaying estates may contain farmland and farming assets.
Information about how many estates overall in the Faversham and Mid Kent constituency were estimated to be subject to Inheritance Tax in 2019-20, 2020-21 and 2021-22 are published online in HMRC’s Inheritance Tax liabilities statistics, in Table 12.9: https://www.gov.uk/government/statistics/inheritance-tax-liabilities-statistics.
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