United Kingdom · Question · Written question
HL HL3109
Business: Inheritance Tax
Introduced
2 December 2024
Last action
12 December 2024 · Answer
Status
Answered
Sponsors
—
Subjects
Discovery layer
Source updated
12 December 2024
Summary
To ask His Majesty's Government whether they intend to value family businesses for inheritance tax based on the net asset value or their profitability.
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Timeline
2 December 2024
Written question
To ask His Majesty's Government whether they intend to value family businesses for inheritance tax based on the net asset value or their profitability.
Source: Lords
12 December 2024
Answer
The approach to valuations for inheritance tax purposes is well-established. Valuations are based on the open market value of an asset, in line with the provisions of the Inheritance Tax Act 1984.
Source: Written answer
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Sponsors
- · Treasury · Answering body
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Sources
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- Official source: https://questions-statements.parliament.uk/written-questions/detail/2024-12-02/HL3109
- Open data entity: https://questions-statements-api.parliament.uk/api/writtenquestions/questions/1745922
- uk · wq-1745922 · source updated 12 December 2024