Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will commission an independent review of the proposed changes to Inheritance Tax.

The Government has set out the rationale, analysis, and expected impact of all the reforms to inheritance tax announced at Autumn Budget 2024. The independent Office for Budget Responsibility certified the costings are reasonable and central for these reforms. This includes the reforms to agricultural property relief and business property relief from 6 April 2026, the reform to the inheritance tax treatment of pensions from 6 April 2027, and the fixing of the nil-rate band and residence nil-rate band at their current levels for a further two years in 2028-29 and 2029-30.

The Government has no plans to commission an independent review of the reforms.