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Part IV.
Succession Duty.
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Charge of additional succession duty.
16 & 17 Vict. c. 51.
44 & 45 Vict. c. 12.
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21. [1]
—(1) In addition to the duties chargeable in respect of successions under section ten of the Succession Duty Act, 1853 there shall be levied and paid to Her Majesty in respect of every succession therein referred to, upon the death of any person dying on or after the first day of July one thousand eight hundred and eighty-eight, according to the value thereof, the following duties (that is to say):—
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Where the successor shall be the lineal issue or lineal ancestor of the predecessor, a duty at the rate of ten shillings per centum upon the value of the interest of the successor;
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In all other cases mentioned in such section, a duty at the rate of one pound ten shillings per centum upon the value of the interest of the successor.
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Provided that additional duty under this Act shall not be payable upon the interest of a successor in leaseholds passing to him by will or devolution by law, or in property included in an account according to the value whereof duty is payable under the Customs and Inland Revenue Act, 1881.
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(2) The duties chargeable under the Acts now in force for charging duties on legacies and shares of the personal estates of deceased persons shall not be levied and paid under such Acts in respect of any legacy payable or having effect or being satisfied out of or charged or rendered a burden upon the real or heritable estate of any person dying on or after the first day of July one thousand eight hundred and eighty-eight, or any real or heritable estate, or the rents or profits thereof, which such person shall have had any right or power to charge, burden, or affect with the payment of money, or out of or upon any moneys to arise from the sale, mortgage, or other disposition of any such real or heritable estate, or any part thereof, but the duties under the Succession Duty Act, 1853, and the additional duties under this Act shall be levied and paid in respect of every such legacy (whether given by way of annuity or in any other form) as a succession to personal property.
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[1 These additional duties are not payable in respect of property chargeable with estate duty under the Finance Act, 1894, see 57 & 58 Vict. c. 30, s. 1, sched. 1.] |
