Asked by: Andrew Selous (Conservative - South West Bedfordshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of offering stamp duty rebates to households that upgrade their EPC rating within the first two years of home ownership.
Answered by Bim Afolami
Improving the energy efficiency of our housing stock will be vital in the long-term to making the UK more energy resilient, bringing down energy bills and meeting our 2050 net zero commitment.
Introducing tax incentives based on green energy installations could add significant complexity to the operation of the current system, as well as having an impact on the Exchequer. The government keeps all tax policy under review, and any changes are announced at fiscal events as usual.
Asked by: Andrew Selous (Conservative - South West Bedfordshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of reducing stamp duty for homes with higher energy efficiency.
Answered by Bim Afolami
Improving the energy efficiency of our housing stock will be vital in the long-term to making the UK more energy resilient, bringing down energy bills and meeting our 2050 net zero commitment.
Introducing tax incentives based on green energy installations could add significant complexity to the operation of the current system, as well as having an impact on the Exchequer. The government keeps all tax policy under review, and any changes are announced at fiscal events as usual.
Asked by: Andrew Selous (Conservative - South West Bedfordshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the timeliness with which HMRC conclude their assessment of inheritance tax due on estates.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
HMRC is currently processing IHT form IHT400 within their agreed service level standards of 80 per cent within 15 working days.
When HMRC have processed the IHT400, if the appropriate amount of tax has been paid, they send the IHT421 to HMCTS. At the same time, a letter is also sent to customers which provides a date by which they will hear from HMRC if a compliance check needs to be undertaken. This date provided will be 12 weeks from the date the tax calculation letter was issued and does not impact the process being undertaken separately by the UK Court Services.
If HMRC has not contacted the customer by the 12 weeks date provided, then HMRC does not have any further questions to ask about the information and values provided in the IHT form and no compliance check will be undertaken.
Asked by: Andrew Selous (Conservative - South West Bedfordshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the impact on the (a) economy and (b) public purse of delays in concluding inheritance tax assessments.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
No assessment has been made of the impact on the economy and public purse on the time taken to conclude inheritance tax assessments.
Asked by: Andrew Selous (Conservative - South West Bedfordshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many estates HMRC has yet to conclude the inheritance tax assessments on within two years after the death.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
There are no estates for which IHT400 Accounts (self-assessment of inheritance tax by executors) have been filed for which inheritance tax assessments have not been concluded within two years of death.
Compliance enquiries may be opened within 12 weeks from processing of the IHT Account.