Commentary

I11.532 Rates of interest

IHT, trusts and estates

I11.532 Rates of interest

I11.532 Rates of interest

The arrangements by which the rate is changed from time to time were altered with effect from 18 August 1989. Instead of the Treasury fixing a rate by a statutory instrument which had to be laid before Parliament, power1 is conferred on the Treasury, enabling them to provide for the rate to vary according to a formula. A statutory instrument has been made2 under that power, whereby interest rates relating to IHT and other direct taxes are automatically reviewed every month, and are adjusted if there has been sufficient change in clearing bank base rates since

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