Commentary

I1.303 CTT—1979 to 1986

IHT, trusts and estates

I1.303 CTT—1979 to 1986

I1.303 CTT—1979 to 1986

In the years of Conservative government after the 1979 general election, the tax was modified and its original scheme and purpose were repudiated. Looking back, the history of CTT since 1979 can be seen as a stage-by-stage return to something resembling estate duty. The rates were lowered so that by 1984 the maximum rate on lifetime transfers had been reduced to 30% and on death to 60%1. The rate bands became index linked. No one appeared to believe that if the need for indexing for inflation is recognised, one ought also to increase a transferor's cumulative

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