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Inheritance Tax

Volume 456: debated on Wednesday 31 January 2007

To ask the Chancellor of the Exchequer (1) under what circumstances a self-catering holiday cottage may benefit from business relief for inheritance tax purposes; (111754)

(2) what representations he has received on the application of business relief for inheritance tax purposes in respect of self-catering holiday cottages.

Inheritance tax business property relief has long been targeted on trading businesses by excluding those of an investment nature. Whether any particular business qualifies for relief will depend on all the facts of the particular case.

The Government have received a small number of representations about business property relief and holiday letting businesses.