Question to the HM Treasury:

To ask His Majesty's Government whether they conducted an impact analysis before capping Agricultural Property Relief on inheritance tax at £1 million for Northern Ireland farmers; and if so, whether they will publish the results.

The Government published information about the reforms to agricultural property relief and business property relief at GOV.UK.

It is expected that up to around 2,000 estates will be affected by the changes to Agricultural Property Relief (APR) and Business Property Relief (BPR). Up to around 520 of these are expected to relate to claims for APR (including those that also claim for BPR), and this number falls to around 430 when claims that include AIM shares are excluded. Almost three-quarters of estates claiming agricultural property relief (or 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.