Part 9

Special rules about settlements and trustees
Chapter 10

Heritage maintenance settlements

Application of property for non-heritage purposes: charge to tax

Rate of tax
515
Tax is charged under section 512 at the rate found by—
a
taking the additional rate for the tax year during which the charge arises, and
b
reducing it by the trust rate for that year.
Words in s. 515(a) substituted (with effect in accordance with Sch. 2 para. 25 of the amending Act) by Finance Act 2009 (c. 10), Sch. 2 para. 7