Asked by: Euan Stainbank (Labour - Falkirk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has undertaken consultation with large family-owned businesses with more than 100 employees on the proposed changes to business property relief.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government published information about the reforms to business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.
The Government will publish a technical consultation in early 2025. This will focus on the detailed application of the allowance to lifetime transfers into trusts and charges on trust property. This will inform the legislation to be included in a future Finance Bill.