Agriculture: Inheritance Tax
The question
To ask the Chancellor of the Exchequer, what case studies she has used to calculate the financial impact of proposed changes to Agricultural Property Relief.
Answered by James Murray
The tax base consists of all estates subject to Inheritance Tax that are projected to claim Agricultural Property Relief or Business Property Relief across the scorecard period. The tax base is estimated using HMRC administrative data, and is grown over the forecast in line with the Office for Budget Responsibility’s forecast for IHT receipts.
More information is available here: https://assets.publishing.service.gov.uk/media/6721d2c54da1c0d41942a8d2/Policy_Costing_Document_-_Autumn_Budget_2024.pdf
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →