Agriculture: Inheritance Tax
Commons · Question 19797 · Tabled 12 Dec 2024 · Treasury · Official record
Answered 20 Dec 2024
Question
Asked by Ben Maguire
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of applying a working farm test which would exempt estates actively being used for farming from changes to Inheritance Tax rules at the Autumn Budget 2024.
Answer
Answered by James Murray, 20 Dec 2024
The longstanding rules already mean agricultural property relief is currently only available if the property includes agricultural land that is occupied for agricultural purposes. It may be occupied by the owners of the land or others, such as a tenant fa...