Capital transfer tax (CTT) | Practical Law
Capital transfer tax (CTT)
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Capital transfer tax (CTT)
Practical Law UK Glossary 4-508-9580
(Approx. 2 pages)
Glossary
Capital transfer tax (CTT)
A tax on lifetime transfers and on death. It was introduced in 1974 as a replacement for
estate duty
, although it did not apply on death until 1975. It was substituted by
inheritance tax
following the Finance Act 1986, when the Capital Transfer Tax Act 1984 was renamed the Inheritance Tax Act 1984. For more information, see
Practice note, Inheritance tax transferable nil rate band: overview: Capital transfer tax (CTT): 13 March 1975 to 17 March 1986
.