Asked by: Harriet Cross (Conservative - Gordon and Buchan)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether organisations representing the (a) agricultural and (b) small business sectors have been consulted on the potential introduction of a lifetime cap on gifts for inheritance tax.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
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 speculation around future changes to tax policy.
Asked by: Harriet Cross (Conservative - Gordon and Buchan)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has undertaken modelling on the potential impact of a lifetime cap on gifts for inheritance tax on (a) businesses and (b) individuals.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
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 speculation around future changes to tax policy.
Asked by: Harriet Cross (Conservative - Gordon and Buchan)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential impact of a potential lifetime gift cap on (a) family (i) farm and (ii) business viability between generations, (b) productivity, (c) food security and (d) job numbers.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
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 speculation around future changes to tax policy.
Asked by: Harriet Cross (Conservative - Gordon and Buchan)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has considered introducing a lifetime cap on gifts for Inheritance Tax purposes.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
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 speculation around future changes to tax policy.