Member

The SNP will not take part in decisions about amendment 5, put forward by the Conservatives, because it relates to income tax thresholds, which are a devolved matter, but we are happy to support the Conservatives’ amendment 6 on APR and BPR. I support a lot of the points that have been made about the changes to agricultural property relief. On business property relief, I am concerned as a result of conversations with family businesses in my constituency that we will see an increase in the number of fire sales. Family businesses will suddenly become liable for significant amounts of tax, but their assets are not liquid—they cannot just take out cash and give it to the tax man—and they will have to sell a significant part of the business within a tight timescale. Even if the Government were to be more flexible on the timescales, the situation would still be disastrous but there would not be a fire sale, such as those that businesses may have to have as it stands. Given that some family businesses are run by older people—they are the ones who have shares in the business and are responsible for it—we might see major issues very soon and businesses having to sell big chunks to pay tax bills.