James Murray

James Murray

Labour (Co-op) — Ealing North

Speaking in the House of Commons on 14 October 2026

Debate

Inheritance Tax

Contribution

Without commenting on the circumstances of an individual taxpayer, the fact that we have a threshold of £2.5 million before any inheritance tax is due on relevant agricultural or business property assets provides substantial protection for people from those charges. As I said earlier, there is a 50% relief which is uncapped above that level, and payment is allowed over 10 years interest-free. The balance we are striking in the policy that was introduced in April provides protection for family farms and small businesses while ensuring a contribution to the public finances, underscoring our fiscal responsibility, which is so important for better public services and a stable economy.

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