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Written question asked by Ben Lake (Plaid Cymru) on Monday, 4 November 2024, in the House of Commons. It was due for an answer on Monday, 11 November 2024 (named day). It was answered by James Murray (Labour) on Monday, 11 November 2024 on behalf of the Treasury.


Agriculture: Inheritance Tax

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.

Answer

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.


Secondary information

Type
Written question
Reference
12479
Session
2024-26
Related items
Autumn Budget 2024: Fixing the Foundations to Deliver Change
Wednesday, 30 October 2024
House of Commons papers
House of Commons
House of Lords
Grouped for answer
Yes
Subjects
Agriculture Business Farms Inheritance tax Wales Tax allowances Tenants
Link
View this Written question on www.parliament.uk