Treasury refuses to show figures on tax alternative

THE UK Government is refusing to provide evidence to back up a minister's claim that the clawback alternative to its inheritance tax (IHT) changes would raise “much less” revenue than the current reforms.

- STAFF REPORTER

Exchequer Secretary to the Treasury James Murray has repeatedly talked down the clawback mechanism, a proposal submitted to the Treasury by the Country Land and Business Association (CLA) and other leading farming bodies.

The CLA lodged Freedom of Information (FOI) requests asking for the evidence behind these statements to be published, but the UK Government is claiming it is not in the public interest to do.

The CLA and a dozen other industry bodies from across the British economy have now written to the Chancellor, urging her to rethink the decision and publish the evidence.

CLA president Victoria Vyvyan said: “The impact of the government's inheritance tax changes is casting a long shadow over the future of farming and family businesses.

“In response to a CLA Freedom of Information request about the research into the 'clawback option,' the Treasury says it is not in the public interest to explain itself.

“We disagree - we think it is very much in the public interest to know what data they used and how. Our ask is clear. If, as the Exchequer Secretary has said, the clawback alternative would raise 'much less' than the Treasury's reforms - show us.

"There has been no consultation, no impact assessment published and now no details given to support their claim that the clawback would raise less money than the proposed approach.

“The businesses affected deserve an accountable and transparent Treasury and this policy has been tainted from the start with being autocratic and opaque.”