Inheritance Tax

Debate between Andrew Lewin and Caroline Johnson

Wednesday 14th October 2026 Commons Chamber

[Dr Caroline Johnson (Sleaford and North Hykeham) (Con)]

It is clear that the hon. Member is taking this issue very seriously and thinking about it very deeply. What does he think about inheritance tax on businesses? I give him the example of a bandage factory making sterile bandages, owned by a family, where the 40-odd-year-old gentleman currently running that factory stands to lose quite a lot of money when his father dies. That will mean laying off people or selling the factory. How does that help the people who work there?

[Andrew Lewin]

I obviously do not know the circumstances of that particular business, but I do know that, as the Minister set out, there is a threshold of £2.5 million under which no business will pay any inheritance tax at all. I think that is a fair place to start, and that is the status quo.