The Inheritance Tax (Settled Property Income Yield) Order 2000

• Citation: S.I. 2000/174
• Sections: 4

Section 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.

Section 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.

Section 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.

Section 4

The rate prescribed as the lower rate for the purposes of section 50 of the Inheritance Tax Act 1984 is the rate that is equal to the rate of the All-Share actual dividend yield shown in the indices which are known as the “FTSE Actuaries Share 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.