Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will make it his policy to extend inheritance tax relief to (a) a mother and father and (b) a sibling or siblings living together in the family home.

At the Summer Budget 2015, the Government announced it will reduce the burden of inheritance tax for families by making it easier to pass on a home to direct descendants. Information about this measure is available at https://www.gov.uk/government/publications/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band.

The Government has sought to focus on the passing of homes to the next generation in the immediate family. This ensures that parents know they will be able to pass on the family home that they have worked hard for to the next generation without the worry of inheritance tax. Around 80% of estates with both a residence and an inheritance tax liability are expected to be in a position to benefit.