Written questions by Fortune.

What assessment she has made of the potential impact of the removal of full Business Property Relief above £2.5 million on levels of forced sales of large family-owned employers.

The reforms to business property relief from 6 April 2026 get the balance right between supporting businesses, fixing the public finances, and funding public services. The reforms reduce the inheritance tax advantages available to owners of business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992 when the rate of relief was a maximum of 50 per cent on all business assets, including the first £2.5 million. Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This means just over 80 per cent of such estates making claims are forecast to not pay any more inheritance tax. The rules for business property relief are longstanding and business assets do not qualify for 100 per cent relief under the current rules if they do not meet qualifying conditions, such as the minimum period of ownership test and the nature of the business. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. Any liability can also be settled through the disposal of any assets within the estate where appropriate. Where share buybacks are used to fund a liability, special treatment has also existed in the system since 1982 for shares in unquoted companies when inheritance tax could not otherwise have been paid without undue hardship. More generally, HMRC recognises the difficulties that personal representatives may face when raising funds to pay inheritance tax and has a number of established ways to help tax payments be made. This includes the Direct Payment Scheme which can be used to transfer money electronically directly from the deceased’s account(s) to HMRC to settle the liability before probate is granted. There are also other options available if the inheritance tax cannot be paid before probate is granted, such as applying for a grant on credit. This allows payment of all or some of the tax and interest due to be postponed until after the grant of probate.

What assessment she has made of the adequacy of the capacity of family-owned trading businesses to fund inheritance tax liabilities within six months of death, particularly where probate has not been granted.

The reforms to business property relief from 6 April 2026 get the balance right between supporting businesses, fixing the public finances, and funding public services. The reforms reduce the inheritance tax advantages available to owners of business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992 when the rate of relief was a maximum of 50 per cent on all business assets, including the first £2.5 million. Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This means just over 80 per cent of such estates making claims are forecast to not pay any more inheritance tax. The rules for business property relief are longstanding and business assets do not qualify for 100 per cent relief under the current rules if they do not meet qualifying conditions, such as the minimum period of ownership test and the nature of the business. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. Any liability can also be settled through the disposal of any assets within the estate where appropriate. Where share buybacks are used to fund a liability, special treatment has also existed in the system since 1982 for shares in unquoted companies when inheritance tax could not otherwise have been paid without undue hardship. More generally, HMRC recognises the difficulties that personal representatives may face when raising funds to pay inheritance tax and has a number of established ways to help tax payments be made. This includes the Direct Payment Scheme which can be used to transfer money electronically directly from the deceased’s account(s) to HMRC to settle the liability before probate is granted. There are also other options available if the inheritance tax cannot be paid before probate is granted, such as applying for a grant on credit. This allows payment of all or some of the tax and interest due to be postponed until after the grant of probate.

What assessment she has made of the potential merits of implementing a deferral mechanism for inheritance tax liabilities arising from the reduction of 100% Business Property Relief above £2.5 million where there is no effective means for family shareholders to fund the liability without disposal of the business.

The reforms to business property relief from 6 April 2026 get the balance right between supporting businesses, fixing the public finances, and funding public services. The reforms reduce the inheritance tax advantages available to owners of business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992 when the rate of relief was a maximum of 50 per cent on all business assets, including the first £2.5 million. Excluding estates only holding shares designated as ‘not listed’ on the markets of recognised stock exchanges, the reforms are now expected to result in up to 220 estates across the UK only claiming business property relief paying more inheritance tax in 2026-27. This means just over 80 per cent of such estates making claims are forecast to not pay any more inheritance tax. The rules for business property relief are longstanding and business assets do not qualify for 100 per cent relief under the current rules if they do not meet qualifying conditions, such as the minimum period of ownership test and the nature of the business. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free. Any liability can also be settled through the disposal of any assets within the estate where appropriate. Where share buybacks are used to fund a liability, special treatment has also existed in the system since 1982 for shares in unquoted companies when inheritance tax could not otherwise have been paid without undue hardship. More generally, HMRC recognises the difficulties that personal representatives may face when raising funds to pay inheritance tax and has a number of established ways to help tax payments be made. This includes the Direct Payment Scheme which can be used to transfer money electronically directly from the deceased’s account(s) to HMRC to settle the liability before probate is granted. There are also other options available if the inheritance tax cannot be paid before probate is granted, such as applying for a grant on credit. This allows payment of all or some of the tax and interest due to be postponed until after the grant of probate.

How much their department spent on X and xAI since July 2024.

HM Treasury has not spent any money on X or xAI since July 2024.

What estimate she has made of the average annual cost to motorists of ending the temporary 5p fuel duty reduction.

At Budget 2025, the Government announced continued support for people and businesses by extending the temporary 5p fuel duty cut until the end of August 2026. Rates will then gradually return to early 2022 levels. The planned increase in line with inflation for 2026-27 will not take place, with the government uprating fuel duty rates by RPI from April 2027. This will save the average car driver £49 next year compared to previous plans.

What HMRC's target timeline for paying out Construction Industry Scheme tax rebates to small businesses is; and what proportion of rebates are paid within that time.

HMRC recognise that repayments are important for customers. They prioritise them and work hard to ensure they are processed as quickly and securely as possible.Individuals can check when they are likely to receive a response by using HMRC’s ‘Where’s my reply’ tool which is available here:www.gov.uk/guidance/check-when-you-can-expect-a-reply-from-hmrcIn relation to CIS repayments, HMRC are recruiting and training more colleagues to improve the service and issue CIS repayments more quickly. In cases of hardship, taxpayers can contact HMRC to look at their case and, where possible, make the repayment sooner.HMRC’s service standard is to respond to 80% of CIS repayment claims for limited companies within 15 working days. The department has a plan in place to clear existing backlogs and return to meeting the service level agreement by January 2026.

If she will make an assessment of the adequacy of the accessibility of HMRC's Consultation on changes to HMRC statistics publications 2025, published on 16 January 2025.

HM Revenue and Customs (HMRC) launched the consultation on changes to HMRC statistics publications on GOV.UK on 16 January 2025. The consultation will remain open until 10 April 2025 and the consultation response, setting out confirmed plans, will be published in summer 2025. When publishing the consultation, HMRC have followed the Government Digital Service guidance on publishing accessible documents on GOV.UK (https://www.gov.uk/guidance/publishing-accessible-documents), including publishing the consultation document in HTML format, making it easier for users to find and navigate. Responses to this consultation are able to be submitted via email. As well as publishing on GOV.UK, invitations to participate were sent directly to known users of HMRC statistics publications such as local authorities, business groups, academia and other government departments. Users can find further information and advice in the accessibility statement for GOV.UK (https://www.gov.uk/help/accessibility-statement), as well as contact details should they wish to provide feedback on accessibility or request information in a different format.

If she will make an estimate of the total revenue her Department expects to receive from property purchases in London following proposed changes to the rate of stamp duty relief.

Statistics on total revenue raised from Stamp Duty Land Tax by region of England for previous years are available within Table 3a of the ‘UK Stamp Tax statistics’ publication available here: https://www.gov.uk/government/statistics/uk-stamp-tax-statistics. The most recent data covers the financial year 2022 to 2023.Regional projections of total revenue from property purchases are not available.

If she will make an estimate of the number of first-time buyers in London that may be subject to stamp duty from April 2025, in the context of proposed changes to the rate of stamp duty relief.

Statistics on the number of claimants of First Time Buyers’ Relief on Stamp Duty Land Tax by region of England are included within Table 9 of the ‘UK Stamp Tax statistics’ publication available here: https://www.gov.uk/government/statistics/uk-stamp-tax-statistics. The most recent data covers the financial year 2022 to 2023.Regional projections of the number of first-time buyers subject to Stamp Duty Land Tax are not available.