§ Ms HarmanTo ask the Chancellor of the Exchequer if he will provide an estimate of the cost to the Exchequer in 1992–93 of granting relief against inheritance tax for chattels declared to be open to inspection by members of the public.
§ Mr. DorrellThe estimated cost to the Exchequer of granting conditional exemption from inheritance tax for 597W chattels in 1992–93 is about £40 million. There are sometimes significant fluctuations in the estimated cost from year to year. Most of the chattels are on dislay in historic houses open to the public or on loan to museums or galleries.
§ Ms HarmanTo ask the Chancellor of the Exchequer if he will provide an estimate of the cost to the Exchequer in 1992–93 of granting relief against inheritance tax for(a) business property within section 104 of the Inheritance Tax Act 1984 and (b) agricultural property within section 116 of the same Act.
§ Mr. DorrellThe estimated cost of granting relief against inheritance tax for transfers in 1992–93 are(a) for business property within section 104 of the Inheritance
Range of Net Estate 1988–89 Number of estates applying for grants of representation 1988–89 Number of estates not taxed 1989–90 Number of estates applying for grants of representation 1989–90 Number of estates not taxed £250,000 and under £500,000 7,051 2,795 7,992 3,100 £500,000 and under £1,000,000 1,728 501 2,322 694 £1,000,000 and under £2,000,000 420 110 628 182 £2,000,000 and over 153 46 231 63