Inheritance tax exemption
Inheritance tax exemption
The Chancellor was asked how many executors of a deceased person's estate had been granted exemption from inheritance tax in relation to chattels declared to be open to inspection by the public. Dawn Primarolo replied that exemption was granted to chattels in their own right in 59, 74, 39 and 21 cases in the years 1997-98 to 2000-01 respectively. In addition, for those years exemption had been granted to three, six, two and no cases for chattels which were historically associated with a heritage building.
(Source: Hansard, 21 January 2002, Vol 378, No 85, col 647W.)
Informers' fees
The payments made to informers under section 32, Inland Revenue Regulation Act 1890 were the subject of a written question recently. Dawn Primarolo said that for the years ended 31 March 1999, 2000 and 2001, the amounts were £15,000, £17,965 and £5,075. These payments were made to members of the public. The Revenue does not vote a sum or earmark particular funds for this category of expenditure, because the sums are relatively small.
(Source: Hansard, 22 January 2002, Vol 378, No 85, col 703W.)
VAT value
Paul Boateng said that in 2000-01, each VAT inspector raised on average £446,000 in net additional liability. The average cost of employing a VAT inspector was approximately £40,000.
(Source: Hansard, 23 January 2002, Vol 378, No 87, col 913W.)
