asked the Minister for Finance if he is considering raising the threshold for inheritance tax on land having regard to the fact that the present threshold was set in 1978; if, in future, adjustments to inheritance tax will be indexed to the price of land; and if he will make a statement on the matter.
Written Answers. - Inheritance Tax.
34.
I propose to take Questions Nos. 80 and 34 together.
Changes in capital acquisitions tax, as with all taxes, fall to be considered by the Government in the context of the budget. It should be noted, however, that agricultural land is already very favourably treated under the capital acquisitions tax code in that the value of agricultural land passing to a farmer is reduced by the lesser of 50 per cent or £200,000. No similar relief is provided for persons involved in any other form of business.