| answer text |
The estimated cost of the inheritance tax exemption for heritage assets can be found
at: <a href="https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs"
target="_blank">https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs</a>
The cost of the capital gains tax exemption for heritage assets is not available.<p>
</p><p>The legislation was introduced to protect national heritage assets. Where there
has been a failure to meet the undertakings, HM Revenue and Customs’ (HMRC’s) approach
is to work with owners in order to put things right. It has not in the last 10 years
been necessary for HMRC to remove an exemption.</p><p> </p><p>The table below sets
out the number of exemptions (by claim) granted in each year for the categories listed
within the legislation over the last ten years:</p><p> </p><table><tbody><tr><td><p>
</p></td><td><p>Pre-eminent objects s.31(1)(a)IHTA and (aa)</p></td><td><p>Land s.31(1)(b)IHTA</p></td><td><p>Buildings
& amenity land s.31(1)(c) and (d) IHTA</p></td><td><p>Historically associated
objects s.31(1)(e)IHTA</p></td></tr><tr><td><p>2007/08</p></td><td><p>12</p></td><td><p>3</p></td><td><p>0</p></td><td><p>1</p></td></tr><tr><td><p>2008/09</p></td><td><p>9</p></td><td><p>0</p></td><td><p>2</p></td><td><p>1</p></td></tr><tr><td><p>2009/10</p></td><td><p>10</p></td><td><p>1</p></td><td><p>2</p></td><td><p>2</p></td></tr><tr><td><p>2010/11</p></td><td><p>9</p></td><td><p>1</p></td><td><p>2</p></td><td><p>0</p></td></tr><tr><td><p>2011/12</p></td><td><p>7</p></td><td><p>2</p></td><td><p>0</p></td><td><p>1</p></td></tr><tr><td><p>2012/13</p></td><td><p>8</p></td><td><p>2</p></td><td><p>0</p></td><td><p>0</p></td></tr><tr><td><p>2013/14</p></td><td><p>8</p></td><td><p>2</p></td><td><p>2</p></td><td><p>2</p></td></tr><tr><td><p>2014/15</p></td><td><p>6</p></td><td><p>0</p></td><td><p>2</p></td><td><p>2</p></td></tr><tr><td><p>2015/16</p></td><td><p>14</p></td><td><p>2</p></td><td><p>1</p></td><td><p>0</p></td></tr><tr><td><p>2016/17</p></td><td><p>16</p></td><td><p>0</p></td><td><p>2</p></td><td><p>0</p></td></tr></tbody></table><p>
</p><p>Sixteen people within HMRC are involved in ensuring undertakings are adhered
to.</p>
|
|
