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1689444

	registered interest
	date	16/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing the inheritance tax threshold to £1 million.
	tabling member constituency	Rother Valley
	tabling member printed	Alexander Stafford
	uin	14343
	answer	answer is ministerial correction date of answer 23/02/2024 answer text <p>The estates of all individuals benefit from a £325,000 nil-rate band for inheritance tax. The targeted residence nil-rate band is a further £175,000 and is available to those passing on a qualifying residence on death to their direct descendants, such as children or grandchildren. This means qualifying estates, including those belonging to individuals who were divorced, can pass on up to £500,000 because of the combined nil-rate band and residence nil-rate band.</p><p> </p><p>The qualifying estate of a surviving spouse or civil partner can pass on up to £1 million without an inheritance tax liability because any unused nil-rate band or residence nil-rate band is transferable between spouses and civil partners. Any unused nil-rate band or residence nil-rate band is not transferable between other individuals. However, the rules for all individuals mean that two divorced individuals can still pass on up to £500,000 each, and so up to a £1 million in total, without an inheritance tax liability because of the nil-rate band and residence nil-rate band.</p><p> </p><p>The Government keeps all taxes under review, including inheritance tax.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 14344 14345 14346 question first answered 23/02/2024 09:00:28 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4866 label Biography information for Alexander Stafford

1689445

	registered interest
	date	16/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of incorporating the residence nil rate band into inheritance tax.
	tabling member constituency	Rother Valley
	tabling member printed	Alexander Stafford
	uin	14344
	answer	answer is ministerial correction date of answer 23/02/2024 answer text <p>The estates of all individuals benefit from a £325,000 nil-rate band for inheritance tax. The targeted residence nil-rate band is a further £175,000 and is available to those passing on a qualifying residence on death to their direct descendants, such as children or grandchildren. This means qualifying estates, including those belonging to individuals who were divorced, can pass on up to £500,000 because of the combined nil-rate band and residence nil-rate band.</p><p> </p><p>The qualifying estate of a surviving spouse or civil partner can pass on up to £1 million without an inheritance tax liability because any unused nil-rate band or residence nil-rate band is transferable between spouses and civil partners. Any unused nil-rate band or residence nil-rate band is not transferable between other individuals. However, the rules for all individuals mean that two divorced individuals can still pass on up to £500,000 each, and so up to a £1 million in total, without an inheritance tax liability because of the nil-rate band and residence nil-rate band.</p><p> </p><p>The Government keeps all taxes under review, including inheritance tax.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 14343 14345 14346 question first answered 23/02/2024 09:00:28 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4866 label Biography information for Alexander Stafford

1689446

	registered interest
	date	16/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make it his policy to incorporate the residence nil rate band into inheritance tax.
	tabling member constituency	Rother Valley
	tabling member printed	Alexander Stafford
	uin	14345
	answer	answer is ministerial correction date of answer 23/02/2024 answer text <p>The estates of all individuals benefit from a £325,000 nil-rate band for inheritance tax. The targeted residence nil-rate band is a further £175,000 and is available to those passing on a qualifying residence on death to their direct descendants, such as children or grandchildren. This means qualifying estates, including those belonging to individuals who were divorced, can pass on up to £500,000 because of the combined nil-rate band and residence nil-rate band.</p><p> </p><p>The qualifying estate of a surviving spouse or civil partner can pass on up to £1 million without an inheritance tax liability because any unused nil-rate band or residence nil-rate band is transferable between spouses and civil partners. Any unused nil-rate band or residence nil-rate band is not transferable between other individuals. However, the rules for all individuals mean that two divorced individuals can still pass on up to £500,000 each, and so up to a £1 million in total, without an inheritance tax liability because of the nil-rate band and residence nil-rate band.</p><p> </p><p>The Government keeps all taxes under review, including inheritance tax.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 14343 14344 14346 question first answered 23/02/2024 09:00:28 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4866 label Biography information for Alexander Stafford

1672304

	registered interest
	date	22/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of abolishing inheritance tax.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	3155
	answer	answer is ministerial correction date of answer 27/11/2023 answer text <p>The Autumn Statement 2023 focused on cutting National Insurance to ensure people keep more of what they earn, but the Government keeps all taxes under review.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 27/11/2023 16:15:04 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	1447 label Biography information for Andrew Rosindell

1656907

	registered interest
	date	01/09/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 11 July 2023 to Question 192344 on Inheritance Tax, what steps his Department is taking to ensure inheritance tax applications are processed within the 15 working day turnaround target.
	tabling member constituency	East Renfrewshire
	tabling member printed	Kirsten Oswald
	uin	196575
	answer	answer is ministerial correction date of answer 11/09/2023 answer text <p>HMRC recognises the impact on customers of not processing these applications within 15 working days and they will continue to prioritise them.</p><p> </p><p>As indicated in the response to Question 192344, the performance target for clearing these forms is 15 working days and during 2022/23 this performance standard was reached consistently, with the exception of one month.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 11/09/2023 13:26:06 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4413 label Biography information for Kirsten Oswald

1653936

	registered interest
	date	18/07/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he plans to alter his policies on inheritance tax; and if he will make a statement.
	tabling member constituency	Warrington North
	tabling member printed	Charlotte Nichols
	uin	194901
	answer	answer is ministerial correction date of answer 25/07/2023 answer text <p>The Government keeps all taxes under review.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 25/07/2023 14:50:08 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4799 label Biography information for Charlotte Nichols

1649931

	registered interest
	date	04/07/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the time taken for inheritance tax applications to be processed.
	tabling member constituency	East Renfrewshire
	tabling member printed	Kirsten Oswald
	uin	192344
	answer	answer is ministerial correction date of answer 11/07/2023 answer text <p>HMRC regularly monitors and assesses the processing times for inheritance tax and all other tax applications as part of its business operation, enabling the department to address any bottlenecks or delays and to improve performance, which may include reallocating resources. Through these measures, HMRC aims to enhance efficiency and deliver against its agreed service standard of 80 per cent with 15 working days.</p><p> </p><p>Throughout 2022-2023 the 15 working day turnaround numbers for Inheritance Tax has been consistently above 80 per cent.</p><p> </p><p>HMRC publishes monthly and quarterly performance data on GOV.UK</p><p> </p><p>https://www.gov.uk/government/collections/hmrc-monthly-performance-reports</p><p> </p><p>https://www.gov.uk/government/collections/hmrc-quarterly-performance-updates</p><p><strong> </strong></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 11/07/2023 15:53:06 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4413 label Biography information for Kirsten Oswald

1649932

	registered interest
	date	04/07/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many applications were made for inheritance tax in the last five years.
	tabling member constituency	East Renfrewshire
	tabling member printed	Kirsten Oswald
	uin	192345
	answer	answer is ministerial correction date of answer 12/07/2023 answer text <p>The personal representatives of a deceased’s estate must submit an IHT400 account to HMRC, unless the estate qualifies as ‘excepted’. In that case, they used to have to submit the shorter IHT205 form (C1 and C5 forms in Scotland). Following reporting requirement changes, these shorter forms are no longer required for deaths occurring after 1 January 2022.</p><p> </p><p>HMRC publishes data on the number of such forms submitted for deaths occurring in a particular tax year. The most recent tax year for which complete data is held is 2019-2020, and is available in Table 12.3 of the Inheritance tax statistics here: <a href="https://www.gov.uk/government/statistics/inheritance-tax-statistics-table-123-estates-notified-to-hmrc-numbers-and-tax-due" target="_blank">https://www.gov.uk/government/statistics/inheritance-tax-statistics-table-123-estates-notified-to-hmrc-numbers-and-tax-due</a>.</p><p> </p><p>Data for 2020-2021 will be published on 26<sup>th</sup> July.</p><p> </p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 12/07/2023 06:50:52 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4413 label Biography information for Kirsten Oswald

1602821

	registered interest
	date	09/03/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the timeliness with which HMRC conclude their assessment of inheritance tax due on estates.
	tabling member constituency	South West Bedfordshire
	tabling member printed	Andrew Selous
	uin	162139
	answer	answer is ministerial correction date of answer 17/03/2023 answer text <p>HMRC is currently processing IHT form IHT400 within their agreed service level standards of 80 per cent within 15 working days.</p><p> </p><p>When HMRC have processed the IHT400, if the appropriate amount of tax has been paid, they send the IHT421 to HMCTS. At the same time, a letter is also sent to customers which provides a date by which they will hear from HMRC if a compliance check needs to be undertaken. This date provided will be 12 weeks from the date the tax calculation letter was issued and does not impact the process being undertaken separately by the UK Court Services.</p><p> </p><p>If HMRC has not contacted the customer by the 12 weeks date provided, then HMRC does not have any further questions to ask about the information and values provided in the IHT form and no compliance check will be undertaken.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 17/03/2023 14:58:44 answering member 4399 label Biography information for Victoria Atkins
	tabling member	1453 label Biography information for Andrew Selous

1602823

	registered interest
	date	09/03/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many estates HMRC has yet to conclude the inheritance tax assessments on within two years after the death.
	tabling member constituency	South West Bedfordshire
	tabling member printed	Andrew Selous
	uin	162140
	answer	answer is ministerial correction date of answer 16/03/2023 answer text <p>There are no estates for which IHT400 Accounts (self-assessment of inheritance tax by executors) have been filed for which inheritance tax assessments have not been concluded within two years of death.</p><p> </p><p>Compliance enquiries may be opened within 12 weeks from processing of the IHT Account.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 16/03/2023 17:19:17 answering member 4399 label Biography information for Victoria Atkins
	tabling member	1453 label Biography information for Andrew Selous