Land (Hansard, 28 January 1994)

§ Mr. Chris Smith
To ask the Chancellor of the Exchequer how many landowners and estates in(a) England, (b) Wales and (c) Scotland have made unsuccessful applications to benefit under the tax procedures by which tax liability is reduced on condition that there is an undertaking to manage and protect the land from development and allow reasonable public access.

§ Mr. Dorrell
Information is not available in the form requested. Under 5 per cent. of applications for conditional exemption from inheritance tax or capital transfer tax are wholly rejected or withdrawn. Applications may relate to a number of properties and some of the applications which have been accepted will have been accepted only in part.

§ Mr. Chris Smith
To ask the Chancellor of the Exchequer how many landowners and estates in(a) England, (b) Wales and (c) Scotland have benefited under the tax procedures by which tax liability is reduced on condition that there is an undertaking to manage and protect the land from development and allow reasonable public access.

§ Mr. Dorrell
There have been 126 designations of land for conditional exemption from inheritance tax or capital transfer tax in England; five designations in Wales; and 26456W designations in Scotland. In addition, there have been 106 designations of historic buildings in England; five designations in Wales; and 39 designations in Scotland. Some of the designations of historic buildings will have extended to surrounding land. Some designations of historic buildings have been for the purposes of the tax exemptions for maintenance funds rather than for exemption of the buildings themselves.

§ Mr. Chris Smith
To ask the Chancellor of the Exchequer what was the approximate value of the tax forgone in each year since 1976 in the cases where landowners and estates have benefited under the tax procedures by which tax liability is reduced on condition that there is an undertaking to manage and protect the land from development and allow reasonable public access.

§ Mr. Dorrell
The annual average cost of inheritance tax conditional exemption for land and buildings is estimated to have been between £5 million and £10 million over the period 1983–84 to 1992–93. Figures for earlier years are not available.