Asked by: Harriet Cross (Conservative - Gordon and Buchan)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the evidential basis on which her Department's estimate of the total number of farms affected by proposed changes to Agricultural Property Relief and Business Property Relief included agricultural properties for which (a) only Agricultural Property Relief was claimed, (b) Agricultural Property Relief and Business Property Relief were claimed and (c) only Business Property Relief was claimed in the 2021-22 financial year.
Answered by James Murray - Exchequer Secretary (HM Treasury)
Information on APR and BPR reforms can be found in the policy briefing paper published at https://www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms/summary-of-reforms-to-agricultural-property-relief-and-business-property-relief#statistical-annex-distribution-of-claims-at-death-for-agricultural-property-relief-and-business-property-relief-in-2021-to-2022.
Additionally, more information behind the approach adopted is available in the Chancellor's recent letter to the Chair of the Treasury Select Committee at: https://committees.parliament.uk/publications/45691/documents/226235/default/.
Asked by: Harriet Cross (Conservative - Gordon and Buchan)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to agricultural property relief in the Autumn Budget 2024 on (a) patterns of agricultural land ownership, (b) rural employment, (c) agricultural supply chains and (d) food production.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.
It is expected that up to around 2,000 estates will be affected by the changes to APR and BPR each year, with around half of those being claims that involve AIM shares. Almost three-quarters of estates claiming agricultural property relief (including those claiming agricultural property relief and business property relief together) each year are expected to be unaffected by these reforms.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
Asked by: Harriet Cross (Conservative - Gordon and Buchan)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether an impact assessment has been undertaken of the proposed changes to Agricultural Property Relief on (a) the agricultural rental market and (b) the sale of agricultural land.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.
It is expected that up to around 2,000 estates will be affected by the changes to APR and BPR each year, with around half of those being claims that involve AIM shares. Almost three-quarters of estates claiming agricultural property relief (including those claiming agricultural property relief and business property relief together) each year are expected to be unaffected by these reforms.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
Asked by: Harriet Cross (Conservative - Gordon and Buchan)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of removing VAT from defibrillator sales on (a) public access to defibrillators and (b) survival rates for cardiac arrest patients in areas where fewer than half of postcodes have access to a defibrillator within the recommended response time.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government currently provides VAT reliefs to aid the purchase of defibrillators. For example, when an AED is purchased with funds provided by a charity and then donated to an eligible body no VAT is charged. Furthermore, all state schools in England have been fitted with AEDs.
The Government keeps all taxes under review including consideration of impacts. A key consideration for any potential VAT relief is whether savings would be passed on to the consumer, and evidence suggests that savings are not always passed on.
VAT is, in addition, the UK's second largest tax forecast to raise £171 billion in 2024/25, and taxation is a vital source of revenue which helps to fund public services, including the NHS. While we keep all taxes under review, the Government has therefore no current plans to make changes to the VAT treatment of AEDs.