§
Resolved,
That—
(a) in the case of persons dying after the twenty-third day of July, nineteen hundred and forty, there shall be substituted for the rates of estate duty set out in the Second Schedule to the Finance Act, 1930 (as increased by subsequent enactments) rates in accordance with the following Table:
| TABLE. | |||
| Principal Value of Estate. | Rate per cent, of Duty. | ||
| £ | £ | ||
| Exceeding | 100 and not exceeding | 500 | 1 |
| Exceeding | 500 and not exceeding | 1,000 | 2 |
| Exceeding | 1,000 and not exceeding | 5,000 | 3 |
| Exceeding | 5,000 and not exceeding | 10,000 | 4 |
| Exceeding | 10,000 and not exceeding | 12,500 | 6 |
| Exceeding | 12,500 and not exceeding | 15,000 | 7.2 |
| Exceeding | 15,000 and not exceeding | 18,000 | 8.4 |
| Exceeding | 18,000 and not exceeding | 21,000 | 9.6 |
| Exceeding | 21,000 and not exceeding | 25,000 | 10.8 |
| Exceeding | 25,000 and not exceeding | 30,000 | 12 |
| Exceeding | 30,000 and not exceeding | 35,000 | 13.2 |
| Exceeding | 35,000 and not exceeding | 40,000 | 14.4 |
| Exceeding | 40,000 and not exceeding | 45,000 | 15.6 |
| Exceeding | 45,000 and not exceeding | 50,000 | 16.8 |
| Exceeding | 50,000 and not exceeding | 55,000 | 19.5 |
| Exceeding | 55,000 and not exceeding | 65,000 | 20.8 |
| Exceeding | 65,000 and not exceeding | 75,000 | 22.1 |
| Exceeding | 75,000 and not exceeding | 85,000 | 23.4 |
| Exceeding | 85,000 and not exceeding | 100,000 | 24.7 |
| Exceeding | 100,000 and not exceeding | 120,000 | 26 |
| Exceeding | 120,000 and not exceeding | 150,000 | 28.6 |
| Exceeding | 150,000 and not exceeding | 200,000 | 31.2 |
| Exceeding | 200,000 and not exceeding | 250,000 | 33.8 |
| Exceeding | 250,000 and not exceeding | 300,000 | 36.4 |
| Exceeding | 300,000 and not exceeding | 400,000 | 39 |
| Exceeding | 400,000 and not exceeding | 500,000 | 41.6 |
| Exceeding | 500,000 and not exceeding | 600,000 | 44.2 |
| Exceeding | 600,000 and not exceeding | 800,000 | 46.8 |
| Exceeding | 800,000 and not exceeding | 1,000,000 | 49.4 |
| Exceeding | 1,000,000 and not exceeding | 1,250,000 | 52 |
| Exceeding | 1,250,000 and not exceeding | 1,500,000 | 54.6 |
| Exceeding | 1,500,000 and not exceeding | 2,000,000 | 58.5 |
| Exceeding | 2,000,000 | 65 |
§ (b) any Act of the present Session relating to estate duty may make provision as respects cases where an interest in expectancy has been sold or mortgaged and the rates of estate duty in force in the case of a person dying when the interest falls into possession are higher than the rates in force in the case of a person dying at the time of the sale or mortgage."