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Written question asked by Pamela Nash (Labour) on Thursday, 18 April 2013, in the House of Commons. It was due for an answer on Monday, 22 April 2013. It was answered by David Gauke (Conservative) on Wednesday, 24 April 2013 on behalf of the Treasury.

Inheritance Tax

Question

(8) how much was paid in inheritance tax relief for holdings in (a) unincorporated partnerships, (b) owner-occupier farmland, (c) shares in qualifying unquoted companies and (d) bequest of landlord interests in let farmland in (i) Wales, (ii) Scotland, (iii) England, (iv) Northern Ireland and (v) the UK in each of the last 30 years;

[152879]

Pamela Nash:

Answer

The information is as follows:

PQ 152407 and PQ 153117

An estimate of the cost of reducing or scrapping the seven year rule with regards to inheritance tax relief is not available.

PQ 152685

The estimated cost of relief for agricultural and business property is published at:

http://www.hmrc.gov.uk/statistics/expenditures/table1-5.pdf

PQ 152686

An estimate of the cost of the nil rate band for chargeable transfers not exceeding the threshold is not available. The number of estates above the IHT threshold using the nil rate band and the amount of relief claimed by them is published in table 12.2 of the National Statistics, available at:

http://www.hmrc.gov.uk/statistics/inheritance/table12-2.pdf

PQ 152687 and PQ 153039

The number of estates in the UK which were notified for probate but which were not taxed worth £500,000 to £1 million, £1 million to £2 million and over £2 million is published in National Statistics Table 12.3 available from the HMRC website at

http://www.hmrc.gov.uk/statistics/inheritance/table12-3.pdf

The information for Scotland, England, Wales and Northern Ireland is not available.

PQ 152688 and PQ 153100

The revenue forgone from taper relief, quick succession relief and double taxation relief are published in statistics table B1 available from the HMRC website at

http://www.hmrc.gov.uk/statistics/expenditures/table-b1.pdf

The information for Scotland, England, Wales and Northern Ireland is not available. The information for taper relief split into relief at (a) 0%, (b) 20%, (c) 40%, (d) 60% and (e) 80% is not available.

PQ 152745

I refer the hon. Member to my reply to her question of 18 April 2013, Official Report, column 520W.

PQ 152879 and PQ 153101

I refer the hon. Member to my reply to her question of 22 April 2013, Official Report, column 672W.

PQ 153087

The estimated cost of the IHT threshold is published in statistics table 1.5 available from the HMRC website at:

http://www.hmrc.gov.uk/statistics/expenditures/table1-5.pdf

Secondary information

Type
Written question
Reference
152879; 561 cc1016-7W
Session
2012-13
Subjects
Agriculture Assets Business Inheritance tax
Link
View this Written question on www.publications.parliament.uk