HC Deb 20 February 1979 vol 963 cc152-5W
Mr. Sainsbury

asked the Chancellor of the Exchequer on how many properties claims for conditional exemption from capital transfer tax, under section 76 of the Finance Act 1976 have been made up to 31 December last, or the latest convenient date, on death transfers and on inter vivos transfers, respectively, with respect to, separately: land of outstanding scenic, scientific or historic interest, section 77(1)(b), to buildings of outstanding architectural or historic interest section 77(1)(c), to their adjoining land, section 77(1)(d), and to their historically associated contents, section 77(1)(e).

Mr. Denzil Davies

, pursuant to his reply [Official Report, 13 February 1979; Vol. 962, c. 497], gave the following reply:

The information requested is as follows.

Claims for conditional exemption from CTT, under section 76 of the Finance Act 1976, made up to 31 December 1978.
No. of Claims
1. Land within section 77(l)(b), Finance Act 1976:
i. property transferred inter vivos 9
ii. transfers on death 2
2. Buildings within section 77(1)(c), Finance Act 1976:
i. property transferred inter vivos 19
ii. transfers on death 17
3. Land within section 77(1)(d), Finance Act 1976:
i. property transferred inter vivos 17
ii. transfers on death 15
4. Objects within section 77(1)(e), Finance Act 1976:*
i. property transferred inter vivos 2
ii. transfers on death 3
*A single claim may cover all the objects historically associated with a building.

Mr. Sainsbury

asked the Chancellor of the Exchequer on how many of the claims made for conditional exemption from capital transfer tax under section 77 of the Finance Act 1976, comprehensive offers of exemption were made up to 31st December last, or the latest convenient date; and on how many of these the designation process was completed by the same date.

Mr. Denzil Davies

, pursuant to his reply [Official Report, 13 February 1979; Vol. 962, c. 498], gave the following reply:

By "comprehensive offers of exemption" I assume that the hon. Member means agreement, in principle, that the property which has been transferred would qualify for exemption from capital transfer tax under section 76 of the Finance Act 1976. By 31 December 1978 such agreement had been notified by the Inland Revenue in 76 cases; and in 60 of these cases the property concerned had been designated, under section 77 as conditionally exempt.

Mr. Sainsbury

asked the Chancellor of the Exchequer at what rate, per annum, claims for conditional exemption from capital transfer tax on transfer on death and on inter vivos transfers, respectively, with respect to objects falling within section 77(1)(a) of the Finance Act 1976 are now being received; how this compares with claims for similar exemption from estate duty; on what proportion of these claims received comprehensive offers of exemption have been made up to 31 December last, or the latest convenient date; and on what proportion of these the designation process was completed by the same date.

Mr. Denzil Davies

, pursuant to his reply [Official Report, 13 February 1979; Vol. 962, c. 498], gave the following reply:

The information requested is as follows:

A. Claims for conditional exemption from capital transfer tax under section 76, Finance Act 1976, in respect of objects within section 77(1)(a), Finance Act 1976.

Year ended 31 December 1977 Year ended 31 December 1978
1. Claims received
(i) lifetime transfers 5
(ii) transfers on death 57 59
Total 62 67
In five of the lifetime cases, and 35 of the death cases, the property had been designated by 31 December 1978, and in one further lifetime case there was agreement in principle that the property would qualify for exemption.

B. Claims for conditional exemption from estate duty under section 40, Finance Act 1930.

1. Claims received in year ended 31 March 1974 125
In comparing numbers of objects for which exemption was claimed under estate duty with the rate of claims under capital transfer tax it should be borne in mind that the capital transfer tax exemption for transfers between spouses will have obviated the need for many claims.

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