Inheritance Tax: Tax Allowances — Written Question

Question

Harriet Cross

Conservative — Gordon and Buchan

To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of a lifetime gift cap on the ability of family (a) farms and (b) businesses to mitigate changes to (i) Agricultural and (ii) Business Property Relief.

Answer

Dan Tomlinson

There is no lifetime cap on gifts for inheritance tax purposes. Information on the rules is available at www.gov.uk/inheritance-tax/gifts. The Chancellor of the Exchequer makes tax policy decisions at fiscal events and the Government does not comment on s...

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