Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will publish an updated impact assessment of changes to Business Property Relief; and what assessment she has made of the potential impact of those changes on family-owned businesses in (a) Scotland and (b) the United Kingdom.

I refer the Honourable Member to the answers provided in response to her previous questions on this topic: https://questions-statements.parliament.uk/written-questions/detail/2024-11-25/15987/ and https://questions-statements.parliament.uk/written-questions/detail/2024-11-25/15989/.

The Chancellor also recently wrote to the Chair of the Treasury Select Committee about the reforms to Agricultural and Business Property Relief, which may be of interest: https://committees.parliament.uk/publications/45691/documents/226235/default/.

In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.