§ Mr. Mandelson
To ask the Chancellor of the Exchequer what he estimates to be the total cost in 1994–95 of relief from inheritance tax for(a) agricultural property, (b) business property, (c) heritage property and maintenance funds and (d) exemption of transfers to charities on death.
§ Mr. Nelson
[holding answer 28 April 1994]: Provisional estimates for the total cost of reliefs and exemptions from inheritance tax for 1994–95 are:
£ million Relief for agricultural property 80 Relief for business property 60 Relief for heritage property and maintenance funds 901–2 Exemption of transfers to charities on death 2202 1 The estimated annual cost of exemptions and reliefs from inheritance tax for heritage property shows significant fluctuations from year to year. The figure given here is the average annual cost over the past decade. 2 These figures are particularly tentative and subject to a wide margin of error.