LETTERS TO THE EDITOR

Press, Volume LXXIX, Issue 23971, 11 June 1943, Page 6

LETTERS TO THE EDITOR

3rd Echelon.— Unpleasant and ■ uncalled for. Justice for All No. 2.—Name and address not given. Subscriber.—The collective title of ' "death duties" refers to estate and succession duties. In addition, there are gift duties and native succession duties. Estate and succession duties are payable to the Commissioner of Stamp Duties on assessment. Estate duties were fixed by the Finance Act, 1940. as follows :-Up to £2OO (final balance of estate), nil: £2OO-£SOO, 1 per cent.; £SOO-£SOOO, 1 per cent., plus an additional 1 per cent, for every £SOO or fraction thereof in excess of £500; £SOOO-£7OOO fromill per cent, to 12 per cent.; £7OOO- - 12 per cent., plus an additional 1 per cent, for every £looo> infraction thereof in excess of £7OOO, £31.000-£70,000, 24 per cent., plus an additional 1-3 per- cent, for every £IOOO or fraction thereof m excess of £31,000; £70,000-£IOO.OOO, 37 per cent., plus an additional 1-10 per cent, for every £IOOO or fraction thereof in excess of £70.000: over £IOO,OOO, 40 per cent. Succession duty is payable by any beneficiary ol a deceased person's estate; and the rates of duty vary according to the degree of relationship of the beneficiary to the deceased person. ,