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1064412
registered interest false more like this
date less than 2019-02-20more like thismore than 2019-02-20
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what estimate his Department has made of (a) the number of beneficiaries of the main residence nil rate band of Inheritance Tax exemption in 2018, (b) where those beneficiaries are located and (c) what is the average income of those beneficiaries was. more like this
tabling member constituency Bootle more like this
tabling member printed
Peter Dowd more like this
uin 223937 more like this
answer
answer
is ministerial correction true more like this
date of answer less than 2019-02-25more like thismore than 2019-02-25
answer text <p>I refer the Hon. Member to the answer that I gave on <ins class="ministerial">6 March</ins> <del class="ministerial">26 February</del> 2018 to the Hon. Member for Leeds West for the number of beneficiaries of the main residence nil rate band.</p><p> </p><p>Estimates of the location and average income of beneficiaries of the main residence nil rate band in 2018 are not readily available and could only be provided at a disproportionate cost.</p> more like this
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
question first answered
less than 2019-02-25T17:20:11.02Zmore like thismore than 2019-02-25T17:20:11.02Z
question first ministerially corrected
less than 2019-03-19T13:21:59.553Zmore like thismore than 2019-03-19T13:21:59.553Z
answering member
3935
label Biography information for Mel Stride more like this
previous answer version
104359
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
answering member
3935
label Biography information for Mel Stride more like this
tabling member
4397
label Biography information for Peter Dowd more like this
1064416
registered interest false more like this
date less than 2019-02-20more like thismore than 2019-02-20
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, how many claims were made for Inheritance Tax relief on business assets in 2018, what the average amount was of those claims; and what the average income was of the claimants. more like this
tabling member constituency Bootle more like this
tabling member printed
Peter Dowd more like this
uin 223941 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-02-25more like thismore than 2019-02-25
answer text <p>Claims qualified for Inheritance Tax exemption on agricultural property relief (APR) and business property relief (BPR) in 2018/19 are currently unavailable.</p> more like this
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
grouped question UIN 223935 more like this
question first answered
less than 2019-02-25T17:40:15.08Zmore like thismore than 2019-02-25T17:40:15.08Z
answering member
3935
label Biography information for Mel Stride more like this
tabling member
4397
label Biography information for Peter Dowd more like this
1017189
registered interest false more like this
date less than 2018-11-29more like thismore than 2018-11-29
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, when he plans to respond to the Office of Tax Simplification's November 2018 report on inheritance tax. more like this
tabling member constituency East Londonderry more like this
tabling member printed
Mr Gregory Campbell more like this
uin 197355 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-12-04more like thismore than 2018-12-04
answer text <p>The Office of Tax Simplification (OTS) has split their review of inheritance tax into two reports. The report that was published in November covered administrative issues. The second report will be published in spring, and will cover wider technical and policy issues.</p><p> </p><p>Once the second report is published, the government will respond to the recommendations the OTS has made.</p> more like this
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
question first answered
less than 2018-12-04T17:25:39.427Zmore like thismore than 2018-12-04T17:25:39.427Z
answering member
3935
label Biography information for Mel Stride more like this
tabling member
1409
label Biography information for Mr Gregory Campbell more like this
915135
registered interest false more like this
date less than 2018-06-01more like thismore than 2018-06-01
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, whether he plans to review the thresholds on inheritance tax. more like this
tabling member constituency Southampton, Itchen more like this
tabling member printed
Royston Smith more like this
uin 148947 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-06-11more like thismore than 2018-06-11
answer text <p>Inheritance tax thresholds are rising thanks to the introduction of the residence threshold last year. This will continue to rise to give married couples a £1m threshold by 2020-21.</p> more like this
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
question first answered
less than 2018-06-11T16:19:03.697Zmore like thismore than 2018-06-11T16:19:03.697Z
answering member
3935
label Biography information for Mel Stride more like this
tabling member
4478
label Biography information for Royston Smith more like this
850040
registered interest false more like this
date less than 2018-02-26more like thismore than 2018-02-26
answering body
HM Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, how much his Department estimates will be collected through inheritance tax in each year from 2017-18 to 2021-22. more like this
tabling member constituency Leeds West more like this
tabling member printed
Rachel Reeves more like this
uin 129608 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-03-06more like thismore than 2018-03-06
answer text <p>The latest inheritance tax receipts forecasts for 2017/18 to 2022/23 are published in Table 4.6 of the Office for Budget Responsibility’s Economic and Fiscal Outlook publication at:</p><p><a href="http://cdn.obr.uk/Nov2017EFOwebversion-2.pdf" target="_blank">http://cdn.obr.uk/Nov2017EFOwebversion-2.pdf</a></p> more like this
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
question first answered
less than 2018-03-06T16:15:19.257Zmore like thismore than 2018-03-06T16:15:19.257Z
answering member
3935
label Biography information for Mel Stride more like this
tabling member
4031
label Biography information for Rachel Reeves more like this
850041
registered interest false more like this
date less than 2018-02-26more like thismore than 2018-02-26
answering body
HM Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, what recent estimate he has made of the cost to the Exchequer of lost revenue resulting from changes to inheritance tax thresholds announced in Budget 2015 in the (a) 2017-18, (b) 2018-19, (c) 2019-20 and (d) 2020-21 fiscal year. more like this
tabling member constituency Leeds West more like this
tabling member printed
Rachel Reeves more like this
uin 129609 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-03-06more like thismore than 2018-03-06
answer text <p>At Summer Budget 2015, the government announced the introduction of a ‘residence nil rate band’ for inheritance tax when a home is passed on death to a direct descendent. It will start at £100,000 in 2017-18, increasing in £25,000 increments to £175,000 in 2020-21. This, in addition to the existing nil rate band of £325,000, will increase the inheritance tax free threshold to £500,000 for many individuals, and up to £1 million for many married couples and civil partners by 2020-21.</p><p> </p><p>The latest estimates of the cost to the exchequer of introducing the residence nil rate band from 2017-18 to 2021-22 are published in Table 2.2 of the Spring Budget 2017 official publication at:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597467/spring_budget_2017_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597467/spring_budget_2017_web.pdf</a></p><p> </p> more like this
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
question first answered
less than 2018-03-06T16:11:51.633Zmore like thismore than 2018-03-06T16:11:51.633Z
answering member
3935
label Biography information for Mel Stride more like this
tabling member
4031
label Biography information for Rachel Reeves more like this
850042
registered interest false more like this
date less than 2018-02-26more like thismore than 2018-02-26
answering body
HM Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, what recent estimate he has made of how many people and estates will benefit as a result of the changes to inheritance tax thresholds announced in Budget 2015 in the (a) 2017-18, (b) 2018-19, (c) 2019-20 and (d) 2020-21 fiscal year. more like this
tabling member constituency Leeds West more like this
tabling member printed
Rachel Reeves more like this
uin 129610 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-03-06more like thismore than 2018-03-06
answer text <p>At Summer Budget 2015, the government announced the introduction of a ‘residence nil rate band’ for inheritance tax when a home is passed on death to a direct descendent. It will start at £100,000 in 2017-18, increasing in £25,000 increments to £175,000 in 2020-21. This, in addition to the existing nil rate band of £325,000, will increase the inheritance tax free threshold to £500,000 for many individuals, and up to £1 million for many married couples and civil partners by 2020-21.</p><p> </p><p>The estimated number of estates that will benefit as a result of the residence nil rate band are in the table below:</p><p> </p><table><tbody><tr><td><p>Year</p></td><td><p>2017/ 18</p></td><td><p>2018/ 19</p></td><td><p>2019/ 20</p></td><td><p>2020/ 21</p></td><td><p>2021/ 22</p></td></tr><tr><td><p>Estimated number of estates benefitting from the residence nil-rate band phased in from 2017 (000s)</p></td><td><p>30</p></td><td><p>31</p></td><td><p>32</p></td><td><p>34</p></td><td><p>36</p></td></tr></tbody></table><p> </p><p> </p>
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
question first answered
less than 2018-03-06T16:14:29.703Zmore like thismore than 2018-03-06T16:14:29.703Z
answering member
3935
label Biography information for Mel Stride more like this
tabling member
4031
label Biography information for Rachel Reeves more like this
748056
registered interest false more like this
date less than 2017-07-04more like thismore than 2017-07-04
answering body
HM Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, what steps he is taking to encourage more financial institutions, including those based overseas, to provide support to executors and administrators of estates, including with regard to making the deceased's liquid assets available for the payment of inheritance tax prior to the grant of probate in line with the 2016 Bereavement Principles. more like this
tabling member constituency Greenwich and Woolwich more like this
tabling member printed
Matthew Pennycook more like this
uin 2724 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2017-07-12more like thismore than 2017-07-12
answer text <p>UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles of Business. This includes a general requirement for firms to provide a prompt, efficient and fair service to all of their customers, including those who have recently suffered a bereavement.</p><p> </p><p>The Government is supportive of industry efforts to improve handling of these sensitive cases, including the implementation of the British Bankers’ Association’s Bereavement Principles. These Principles commit firms to support customers and, in particular, allow necessary payments to be made from the deceased’s accounts. Such payments include inheritance tax, which can be paid directly to HM Revenue and Customs, before probate is granted, through the Direct Payment Scheme. Where lower amounts are held, the Principles also commit firms to consider whether they can waive probate requirements and release funds more quickly.</p> more like this
answering member constituency Central Devon more like this
answering member printed Mel Stride more like this
question first answered
less than 2017-07-12T12:39:47.787Zmore like thismore than 2017-07-12T12:39:47.787Z
answering member
3935
label Biography information for Mel Stride more like this
tabling member
4520
label Biography information for Matthew Pennycook more like this
694193
registered interest false more like this
date less than 2017-02-24more like thismore than 2017-02-24
answering body
HM Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, what recent estimate he has made of the cost to the Exchequer of lost revenue resulting from changes to inheritance tax thresholds announced in Budget 2015 in the (a) 2017-18, (b) 2018-19, (c) 2019-20 and (d) 2020-21 fiscal year. more like this
tabling member constituency Leeds West more like this
tabling member printed
Rachel Reeves more like this
uin 65490 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2017-03-06more like thismore than 2017-03-06
answer text <p>At Summer Budget 2015, the Government announced the introduction of a new ‘residence nil rate band’ for inheritance tax when a home is passed on death to a direct descendent. It will start at £100,000 in 2017-18, increasing in £25,000 increments to £175,000 in 2020-21. This, in addition to the existing nil rate band of £325,000, will increase the inheritance tax free threshold to £500,000 for many individuals, and up to £1 million for many married couples and civil partners by 2020-21.</p><p> </p><p>The latest estimates of the cost to the Exchequer of introducing the residence nil rate band from 2017-18 to 2020-21 are published in Table 2.2 of the Budget 2016 official publication at: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508193/HMT_Budget_2016_Web_Accessible.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508193/HMT_Budget_2016_Web_Accessible.pdf</a>.</p><p> </p><p>The next update to this publication is scheduled for 8 March 2017, following the Spring Budget 2017 announcements.</p>
answering member constituency Battersea more like this
answering member printed Jane Ellison more like this
question first answered
less than 2017-03-06T15:08:27.603Zmore like thismore than 2017-03-06T15:08:27.603Z
answering member
3918
label Biography information for Jane Ellison more like this
tabling member
4031
label Biography information for Rachel Reeves more like this
693157
registered interest false more like this
date less than 2017-02-22more like thismore than 2017-02-22
answering body
HM Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Inheritance Tax remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, what forecast his Department has made for the total revenue to the Exchequer raised through inheritance tax in each year to 2020; and if he will make a statement. more like this
tabling member constituency Romford more like this
tabling member printed
Andrew Rosindell more like this
uin 65133 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2017-03-02more like thismore than 2017-03-02
answer text <p>The latest inheritance tax receipts forecasts for 2016/17 to 2021/22 are published in Table 4.6 of the Office for Budget Responsibility’s <em>Economic and Fiscal Outlook</em> publication at: <a href="http://cdn.budgetresponsibility.org.uk/Nov2016EFO.pdf" target="_blank">http://cdn.budgetresponsibility.org.uk/Nov2016EFO.pdf</a>.</p> more like this
answering member constituency Battersea more like this
answering member printed Jane Ellison more like this
question first answered
less than 2017-03-02T15:05:15.343Zmore like thismore than 2017-03-02T15:05:15.343Z
answering member
3918
label Biography information for Jane Ellison more like this
tabling member
1447
label Biography information for Andrew Rosindell more like this