Estate duty .281949-1975.29 History of inheritance taxes in the United Kingdom



stafford cripps, abolished legacy , succession duties in 1949


the complexity , unfairness in how duties applied discussed stafford cripps in 1949 budget speech:



accordingly, legacy duty , succession duty abolished finance act 1949, followed repeal of corporation duty finance act 1959. three-year period gifts made prior death extended 5 years finance act 1946, , 7 years finance act 1969.


estate duty became more progressive in scale, peaking in 1969 highest marginal rate fixed @ 85% of amounts in excess of £750,000, provided total duty did not exceed 80% of value of total estate.





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