Inheritance Tax

Daniel Kawczynski
To ask the Chancellor of the Exchequer whether his Department has estimated the revenue that would be lost to the Exchequer if principal residences were exempt from inheritance tax.

Dawn Primarolo
Exempting principal residences from inheritance tax from 2008-09 onwards would incur a full year cost of around £1.7 billion.

Daniel Kawczynski
To ask the Chancellor of the Exchequer what estimate he has made of the cost to the Exchequer of raising the inheritance tax threshold to £500,000.

Dawn Primarolo
Raising the inheritance tax nil rate band to £500,000 from 2008-09 would incur a full year cost of around £2 billion.