Finance Act, 1965

Abolition of legacy and succession duty in certain cases.

30.—(1) The legacy and succession duty payable at the rate of one per cent. and the additional succession duty at the rate of ten shillings per cent. shall not be chargeable on a legacy derived from a testator or intestate dying after the passing of this Act or on a succession conferred after such passing.

(2) For the purposes of this section “legacy” includes residue and share of residue.

(3) The foregoing provisions of this section shall not operate to prevent the grant of an exemption which would be lawful if this section had not been enacted.