What assessment has the Welsh Government made of the impact of the UK Government's planned 20 per cent inheritance tax on combined business and agricultural assets, and how will they be mitigated?
Answered by Deputy First Minister and Cabinet Secretary for Climate Change and Rural Affairs | Answered on 12/11/2024
Inheritance tax is a reserved tax, overseen by the UK Government.
HMT figures suggest that most farms will be unaffected by the changes announced by the UK Government.
Further information can be found at What are the changes to agricultural property relief? - GOV.UK and Agricultural property relief and business property relief reforms - GOV.UK.