Estate Duty Act 1929
Table of Contents
Long Title
Part 1 PRELIMINARY
1 Short title
2 Interpretation
2A Application
3 Presumptions
4 Appointment of Commissioner, etc.
Part 2 ESTATE DUTY
5 Estate duty imposed
6 Remission of estate duty
7 Property deemed to pass
8 Property not deemed to pass
9 Transactions for money consideration
10 Duty not payable in respect of small annuities and widows’ and orphans’ pensions
11 Duty not payable for person not domiciled or resident in respect of certain property
12 Bequests to Government or institutions of public character
12A Gifts to Government or institutions of public character
13 Gifts to approved museum
14 Dwelling houses and all other property
15 Property of national, scientific, etc., interest given for public purposes
16 Property on enlargement of settlor’s interests
17 Relief in respect of certain life interests
Part 3 COMPANIES
18 Interpretation of this Part
19 Transfer of assets to certain companies
20 Transfer of settled property to certain companies
21 Liability of companies to account for duty
22 Valuation by reference to assets
Part 4 AGGREGATION AND VALUE OF PROPERTY
23 Aggregation of property to form one estate for purpose of estate duty
24 Principal value
25 Interests in expectancy
26 Value of interests ceasing on death
27 Allowance for debts and funeral expenses
28 Deduction of duty paid in other countries
Part 5 LIABILITY FOR ESTATE DUTY
29 Duty to be first charge
30 Liability of executor, etc.
31 Raising estate duty by sale, mortgage or terminable charge
32 Payment of duty with Government stock or debentures
33 Apportionment of estate duty
34 Limitation of liability
Part 6 COLLECTION OF ESTATE DUTY
35 Filing of accounts of property
36 Interest payable on estate duty and penalty for late payment
37 Commissioner may make assessment
38 Recovery of estate duty
39 Powers of Commissioner
40 Release of estate on which duty is paid
41 Probate not to issue until estate duty paid or postponement granted
42 Postponement of payment of estate duty in certain cases
43 Duties of company and life assurance company
44 Penalties for delay and intermeddling
45 Return of duty overpaid
46 Payment of additional duty
47 Application to court
Part 7 MISCELLANEOUS PROVISIONS
48 Inspection of records, etc.
49 Remission of estate duty
50 Waiver of small duty and interest
51 Reduction of penalties
52 Persons exempt from liability
53 Composition of duties
54 Penalty for false statement or false representation
54A Protection of informers
55 Interest of deceased person in business to be notified
56 Intervention by Commissioner in pending suits
57 Facts stated in Commissioner’s certificate need not be proved
58 Signature and service of notices
59 Rules
Legislative History
Abbreviations