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Finance Act 2012

Summary

1.Section 209 and Schedule 33 provide for a lower rate of inheritance tax (IHT) of 36 per cent to be charged on a deceased person’s estate where 10 per cent or more of the net estate has been left to a charity or a registered community amateur sports club.  The change will take effect for deaths on or after 6 April 2012.

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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.

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