Business: Inheritance Tax
Commons · Question 29933 · Tabled 7 Feb 2025 · Treasury · Official record
Answered 17 Feb 2025
Question
Asked by Joy Morrissey
To ask the Chancellor of the Exchequer, whether her Department has made an estimate of the number of family businesses that may be required to (a) sell and (b) downsize as a result of the reduction in Business Property Relief; and what assessment she has
Answer
Answered by James Murray, 17 Feb 2025
The value of an ownership of a business, or share of a business, is included in an estate for inheritance tax purposes. Business property relief reduces the value of the interest in the business or its assets when calculating how much inheritance tax is d...