I1.301 Introduction to CTT

IHT, trusts and estates

I1.301 Introduction to CTT

Division I1.3     Capital transfer tax (CTT)

For updates affecting this Division please see Part I0 Updates


I1.301 Introduction to CTT

CTT had a chequered legislative history. The tax was announced by the then Chancellor of the Exchequer, Mr Denis Healey, as part of his Budget Statement on 26 March 1974 following the Labour Party's election victory. The Chancellor announced that the tax would form part of a second Finance Bill to be introduced later in the Parliamentary session but that it would take effect as from 26 March 1974. A White Paper was published in August 1974 giving an outline

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