Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to her Department's policy paper entitled Summary of reforms to agricultural property relief and business property relief, published on 30 October 2024, whether the £1 million threshold for the two reliefs will be uprated over this Parliament by inflation.

The allowance will be £1 million from 6 April 2026. Decisions about future increases will be taken in the same way as for other inheritance tax reliefs.