Written Question·Treasury·UIN 38752
Income Tax and Inheritance Tax
Tabled: 17 March 2025
Answered: 25 March 2025
Question
Susan Murray
Liberal Democrat — Mid Dunbartonshire
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of planned changes to (a) income and (b) inheritance tax on people who inherit more than £1 million.
Answer
James MurrayInheritance tax is a wealth transfer tax charged on the estate (the property, money, and possessions) of someone who has died. In the latest available tax year (2021-22), 4.39% of all UK deaths were liable to inheritance tax. The tax liability is on the e...
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