Small Businesses: Inheritance Tax
(asked on 2nd December 2024) - View Source
Question to the HM Treasury:
To ask His Majesty's Government whether they intend to value family businesses for inheritance tax based on the net asset value or their profitability.
This question was answered on 12th December 2024
The approach to valuations for inheritance tax purposes is well-established. Valuations are based on the open market value of an asset, in line with the provisions of the Inheritance Tax Act 1984.