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Taxation: Inheritance Tax

Volume 710: debated on Monday 11 May 2009

Question

Asked by

To ask Her Majesty's Government how many applications for conditional exemption from inheritance tax for chattels were made in the years 1997–2008; and what was the total value of the chattels which were subsequently exempted in each of those years. [HL2964]

The following table shows the number of claims for conditional exemption from inheritance tax for chattels and the values designated as exempt. The values designated relate only to claims where exemption was granted.

Claims for chattels to be conditionally exempt from inheritance tax

Year of designation

Claims processed

Value designated (£ millions)

1997-98

61

82

1998-99

73

82

1999-00

49

33

2000-01

23

53

2001-02

24

17

2002-03

27

26

2003-04

20

19

2004-05

16

30

2005-06

20

222

2006-07

18

62

2007-08

14

47

2008-09

14

79

The figures provided include the historically associated contents of historic houses as well as cases where chattels have been granted conditional exemption in their own right.