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Estate Duty

Volume 463: debated on Wednesday 6 April 1949

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24 Rates


"That the scale set out in the following Table shall be substituted for the scale set out in Part 1 of the Tenth Schedule to the Finance Act, 1946, as the scale of rates of estate duty, and the scale in accordance with which estate duty is to be charged on the agricultural value of agricultural property under section twenty-three of the Finance Act, 1925, shall (instead of being that referred to in that section) be the same scale as applies in other cases with a reduction of forty-five per cent. in each of the rates.


Principal value of estate

Rate percent of duty

Not exceeding2000Nil
2,000and not exceeding3,0001
3,000and not exceeding5,0002
5,000and not exceeding7,5003
7,500and not exceeding10,0004
10,000and not exceeding12,5006
12,500and not exceeding15,0008
15,000and not exceeding17,50010
17,500and not exceeding20,00012
20,000and not exceeding25,00015
25,000and not exceeding30,00018
30,000and not exceeding35,00021
35,000and not exceeding40,00024
40,000and not exceeding45,00028
45,000and not exceeding50,00031
50,000and not exceeding60,00035
60,00and not exceeding75,00040
75,000and not exceeding100,00045
100,000and not exceeding150,00050
150,000and not exceeding200,00055
200,000and not exceeding300,00060
300,000and not exceeding500,00065
500,000and not exceeding750,00070
750,000and not exceeding1,000,00075

25 Property Abroad


"That property situate out of great Britain which passes on a death shall be chargeable with estate duty unless it is shown that the proper law regulating the devolution of the property or the disposition under or by reason of which it passes is the law neither of England nor of Scotland and that any other condition required by any Act of the present Session relating to Finance is satisfied."

26 Property Settled Inalienably


"That lands and chattels so settled by Act of Parliament or royal grant that no one of the persons successively in possession thereof is capable of alienating the same shall be chargeable with estate duty in the same way as other settled property."