UK Parliament / Open data

Farming and Inheritance Tax

Proceeding contribution from James Murray (Labour) in the House of Commons on Wednesday, 4 December 2024. It occurred during Opposition day on Farming and Inheritance Tax.

That is not how I interpret the comment, but I make no apology for the fact that we want to support farmers, as well as making our energy transition and building homes for people across the country. We need to ensure that we are achieving all the goals that the people of this country elected us to achieve.

I want to say more about data, because several Members have raised the subject. As I have explained a few times now, the DEFRA data shows the asset value of farms in

England, but it is not possible to accurately infer a future inheritance tax liability from data on farm asset values. Any inheritance tax liabilities that farming assets may face will be affected by who the owners are, the nature of the ownership, how many owners there are, any borrowing that they have, and how they plan their affairs.

Type
Proceeding contribution
Reference
758 cc320-1 
Session
2024-25
Chamber / Committee
House of Commons chamber
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