Statutory Instruments
2000 No. 174
INHERITANCE TAX
The Inheritance Tax (Settled Property Income Yield) Order 2000
Made
27th January 2000
Laid before the House of Commons
28th January 2000
Coming into force
18th February 2000
The Treasury in exercise of the powers conferred on them by section 50(3) of the Inheritance Tax Act 1984( 1 ) hereby make the following Order:
1. —(1) This Order may be cited as the Inheritance Tax (Settled Property Income Yield) Order 2000 and shall come into force on 18th February 2000.
(2) This Order shall have effect in relation to transfers of value made on or after 18th February 2000.
2. In this Order references to “indices” are to the indices which are published in the Financial Times and produced in conjunction with the Institute of Actuaries and the Faculty of Actuaries.
3. The rate prescribed as the higher rate for the purposes of section 50 of the Inheritance Tax Act 1984 is the rate that is equal to the rate of the Irredeemables' yield shown in the indices which are known as the “FTSE Actuaries Government Securities UK Indices” and which are produced either—
(a) for the date on which the value in question is to be determined, or, if those indices are not produced for that date,
(b) for the latest date preceding that date for which those indices are produced.
(a) for the date on which the value in question is to be determined, or, if those indices are not produced for that date,
(b) for the latest date preceding that date for which those indices are produced.
Greg Pope
Jim Dowd
Two of the Lords Commissioners of Her Majesty’s Treasury
27th January 2000
1984 c. 51 . By virtue of section 100(1) and (2) of the Finance Act 1986 (c. 41) , on and after 25th July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984, and any reference in that Act to capital transfer tax is to have effect as a reference to inheritance tax, except where the reference relates to a liability arising before 25th July 1986.