§ Mr. SwayneTo ask the Chancellor of the Exchequer what was the annual cost to the Exchequer of the conditional exemption for heritage property from inheritance tax, and how many properties took advantage of the scheme, in the last year for which figures are available. [30465]
§ Dawn PrimaroloIn 1996–97, the estimated cost to the Exchequer of conditional exemption was £30 million for chattels and £5 million for land and buildings. Conditional exemption was granted for chattels in 41 cases and for land and buildings in 16 cases. A case may include one or more conditionally exempt assets.