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Capital Transfer Tax

Volume 885: debated on Friday 7 February 1975

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asked the Chancellor of the Exchequer whether he will now publish his proposed reduced scale of rates of capital transfer tax on lifetime gifts.

Yes. I propose that the scale should be as follows:

Slice of chargeable transfers-£000Rate on slice Percentage
0– 15
15– 205
20– 25
25– 3010
30– 4012½
40– 5015
50– 6017½
60– 8020
80– 10022½
100– 12027½
120– 15035
150– 20042½
200– 25050
250– 30055
300– 50060
500–1,00065
1,000–2,00070
2,000+75
Where a gift is made within three years of the death of the donor the tax charged will be increased to that appropriate to a transfer on death.