Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she plans to take to ensure transparency in the modelling of the proposed Inheritance Tax changes.

The Government published information in the normal way at Autumn Budget 2024 about the assumptions and methodologies for the costing of reforms. These costings, including those relating to inheritance tax, were all certified by the independent Office for Budget Responsibility (OBR). The policy costings document is available at https://assets.publishing.service.gov.uk/media/6721d2c54da1c0d41942a8d2/Policy_Costing_Document_-_Autumn_Budget_2024.pdf.

The OBR published more information in January 2025 on the modelling for the forthcoming reforms to inheritance tax. Information about the reforms to agricultural property relief and business property relief is available at https://obr.uk/docs/dlm_uploads/IHT-APR-and-BPR-supplementary-release-Jan-2025.pdf. Information about the reforms to the inheritance tax treatment of pensions is available at https://obr.uk/docs/dlm_uploads/IHT-on-pensions-supplementary-release-Jan-2025.pdf.