Skip to main content

Capital Transfer Tax

Volume 885: debated on Monday 27 January 1975

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer what are the amounts to which a gift is grossed up to calculate capital transfer tax, and the amounts of tax payable, where a father gives his son an asset worth £20,000, £30,000 and so on to £100,000, £125,000 and so on to £300,000; and £350,000, and so on to £1 million, where the father has made no other gifts and where he has already made gifts of £15,000, £50,000, £100,000, £200,000, and what percentage the tax represents of the asset transferred.

Previous Gifts Totalling £15,000 gross

Value of Asset Transferred (after all Tax)

Combined Value of Asset and Tax Paid by Donor

Tax Payable

Tax Payable as Proportion of Asset Transferred

£££

percentage

20,00024,6674,66723·33
30,00039,2309,23030·77
40,00055,41715,41738·54
50,00072,72722,72745·45
60,00091,50031,50052·50
70,000112,22242,22260·32
80,000134,44454,44468·05
90,000159,37569,37577·08
100,000184,37584,37584·37
125,000246,875121,87597·50
150,000309,375159,375106·25
175,000371,875196,875112·50
200,000434,375234,375117·19
225,000498,571273,571121·59
250,000570,000320,000128·00
275,000641,429366,429133·25
300,000712,857412,857137·62
350,000855,714505,714144·49
400,0001,000,833600,833150·21
450,0001,167,500717,500159·44
500,0001,334,167834,167166·83
550,0001,500,833950,833172·88
600,0001,667,5001,067,500177·92
650,0001,834,1671,184,167182·18
700,0002,004,0001,304,000186·29
750,0002,204,0001,454,000193·87
800,0002,404,0001,604,000200·50
850,0002,604,0001,754,000206·35
900,0002,804,0001,904,000211·56
950,0003,004,0002,054,000216·21
1,000,0003,204,0002,204,000220·40

Previous Gifts Totalling £50,000 gross

Value of Asset Transferred (after all Tax)

Combined Value of Asset and Tax Paid by Donor

Tax Payable

Tax Payable as Proportion of Asset Transferred

£££

percentage

20,00032,72712,72763·63
30,00051,00021,00070·00
40,00071,11131,11177·78
50,00093,33343,33386·67
60,000117,50057,50095·83
70,000142,50072,500103·57
80,000167,50087,500109·37
90,000192,500102,500113·89
100,000217,500117,500117·50
125,000280,000155,000124·00
150,000342,500192,500128·33
175,000405,000230,000131·43
200,000470,000270,000135·00
225,000541,429316,429140·63
250,000612,857362,857145·14
275,000684,286409,286148·83
300,000755,714455,714151·90
350,000898,751548,571156·73
400,0001,056,667656,667164·17
450,0001,223,333773,333171·85
500,0001,390,000890,000178·00
550,0001,556,6671,006,667183·03
600,0001,723,3331,123,333187·22
650,0001,890,0001,240,000190·77
700,0002,078,0001,378,000196·86
750,0002,278,0001,528,000203·73
800,0002,478,0001,678,000209·75
850,0002,678,0001,828,000215·06
900,0002,878,0001,978,000219·78
950,0003,078,0002,128,000224·00
1,000,0003,278,0002,278,000227·80

Previous Gifts Totalling £100,000 gross

Value of Asset Transferred (after all Tax)

Combined Value of Asset and Tax Paid by Donor

Tax Payable

Tax Payable as Proportion of Asset Transferred

£££

percentage

20,00042,22222,222111·11
30,00066,25036,250120·83
40,00091,25051,250128·12
50,000116,25066,250132·50
60,000141,25081,250135·42
70,000166,25096,250137·50
80,000191,250111,250139·06
90,000216,250126,250140·28
100,000241,250141,250141·25
125,000303,750178,750143·00
150,000366,250216,250144·17
175,000432,857257,857147·35
200,000504,286304,286152·14
225,000575,714350,714155·87
250,000647,143397,143158·86
275,000718,571443,571161·30
300,000790,000490,000163·33
350,000938,333588,333168·09
400,0001,105,000705,000176·25
450,0001,271,667821,667182·59
500,0001,438,333938,333187·67
550,0001,605,0001,055,000191·82
600,0001,771,6671,171,667195·28
650,0001,946,0001,296,000199·38
700,0002,146,0001,446,000206·57
750,0002,346,0001,596,000212·80
800,0002,546,0001,746,000218·25
850,0002,746,0001,896,000223·06
900,0002,946,0002,046,000227·33
950,0003,146,0002,196,000231·16
1,000,0003,346,0002,346,000234·60

Previous Gifts Totalling £200,000 gross

Value of Asset Transferred (after all Tax)

Combined Value of Asset and Tax Paid by Donor

Tax Payable

Tax Payable as Proportion of Asset Transferred

£££

percentage

20,00050,00030,000150·00
30,00075,00045,000150·00
40,000100,00060,000150·00
50,000125,00075,000150·00
60,000150,00090,000150·00
70,000175,000105,000150·00
80,000200,000120,000150·00
90,000225,000135,000150·00
100,000250,000150,000150·00
125,000314,286189,286151·43
150,000385,714235,714157·14
175,000457,143282,143161·22
200,000528,571328,571164·29
225,000600,000375,000166·67
250,000671,429421,429168·57
275,000742,857467,857170·13
300,000816,667516,667172·22
350,000983,333633,333180·95
400,0001,150,000750,000187·50
450,0001,316,667866,667192·59

Previous Gifts Totalling £200,000 gross

Value of Asset Transferred (after all Tax)

Combined Value of Asset and Tax Paid by Donor

Tax Payable

Tax Payable as Proportion of Asset Transferred

£££

percentage

500,0001,483,333983,333196·67
550,0001,650,0001,100,000200·00
600,0001,820,0001,220,000203·33
650,0002,020,0001,370,000210·77
700,0002,220,0001,520,000217·14
750,0002,420,0001,670,000222·67
800,0002,620,0001,820,000227·50
850,0002,820,0001,970,000231·76
900,0003,020,0002,120,000235·56
950,0003,220,0002,270,000238·95
1,000,0003,420,0002,420,000242·00

Notes

1. The calculations are based on the assumption that the donor pays the tax and transfers the net amounts as in the left-hand column.
2. It is assumed that all transfers are chargeable transfers (ie there are no exemptions for the first £1,000; no charitable exemptions etc.). The fact that donor and donee are related does not affect the figures.