23 Computation of tax

Tax is charged at the rate of 1% on the taxable value (see section 28) of a taxable inheritance (see section 11) chargeable under section 20. The charge for tax arising on 31 December 2006 (see note relating to the definition of “chargeable date” in section 19) will be 73.97% of the tax due on that date to take account of the fact that the period from 5 April to 31 December is less than a year.

Relevant Date: Finance Act 2015