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Inheritance Tax

Volume 463: debated on Monday 23 July 2007

To ask the Chancellor of the Exchequer what estimate he has made of the change in (a) inheritance tax revenue and (b) stamp duty revenue on property due to fiscal drag since 1997. (150668)

No such estimates have been made. Budget 2007 announced that the inheritance tax nil rate band would rise by more than forecast inflation to £312,000 in 2008-09 and to £325,000 in 2009-10. The initial stamp duty threshold was doubled from £60,000 to £120,000 in Budget 2005 and further raised to £125,000 in Budget 2006.