Assessment and procedures: trustees: rate applicable to trusts: years 1998-99 to 2007-08
TCGA92/S5 & TCGA92/S4 (1AA)
The rate applicable to trusts was defined ICTA88/S686 (1A) as the sum of the basic and additional rates. In Finance Act 1997 it was redefined as a rate of 34 % or such rate as Parliament shall determine. From 1988-89 to 1995-96 inclusive it was 35 %. For 1996-97 to 2003-04 inclusive it was 34 %. For 2004-05 onwards it is 40%.
For 1998-99 to 2007-08, this rate applies to all resident trustees, unless within the second bullet of CG35201. See TCGA92/S4(1AA), as introduced in Finance Act 1998.