Question to the HM Treasury:

To ask Her Majesty’s Government what estimate they have made of the gain to the Exchequer of ending relief against tax to gifts made up to seven years prior to death.

HM Revenue and Customs’ (HMRC’s) most recent estimate of the cost to the Exchequer of providing Taper Relief on transfers made between three and seven years before death was that this relief cost £25 million in 2013-14 and will cost £25 million in 2014-15^[1].

[1] This information was published in December 2014 at:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/389545/20141231_minorallowances_reliefs_v0.4.pdf