Jim Shannon

Jim Shannon

Democratic Unionist Party — Strangford

Speaking in the House of Commons on 3 June 2025

Debate

Inheritance Tax: Family-owned Businesses

Contribution

I commend the hon. Lady on securing this debate. She is absolutely right to highlight the issue of taxation. Does she agree that taxing businesses at 20% based on their value at the time of the owner’s death cannot possibly take into account the owner’s personal input into the business, and leaves a situation that can run a successful business into the ground? There is only so much that one person can be taxed before the burden is too great, and the taxation the Government are pushing is definitely going to destroy the farming sector.

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