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Inheritance Tax

Volume 465: debated on Tuesday 23 October 2007

To ask the Chancellor of the Exchequer what his assessment is of the likely total cost of the changes to inheritance tax which were announced on 9 October for each year from 2007-08 to 2012-13; and if he will break down the figure to show the changes for each income decile. (158567)

Published figures for the estimated costs of the changes announced on 9 October to inheritance tax are published in the 2007 pre-Budget report and comprehensive spending review.

http://www.hm-treasury.gov.uk/media/6/7/pbr_csr07_chapter1_207_pdf

Figures are not available to show the breakdown of the changes for each income decile.

To ask the Chancellor of the Exchequer (1) which team in his Department is responsible for developing policy on inheritance tax; (159922)

(2) on what date he decided his plans for inheritance tax that he announced on 9th October 2007.

The development of tax policy is the responsibility of the Budget, Tax and Welfare Directorate of the Treasury, together with HM Revenue and Customs.

The Treasury keeps all taxes under review. The Chancellor announced changes to inheritance tax to ensure that all married couples and civil partners can benefit from double the inheritance tax allowance, in addition to the entitlement to full spouse relief, in his pre-Budget report statement on 9 October 2007.