PRT: Changes - FA93 - Reduction in rate of PRT
Following FA93, existing “taxable” fields remain chargeable to PRT.
The 1993 legislation reduced the rate of charge from 75% to 50% with effect from the chargeable period ended 31 December 1993. This was accompanied by a consequential reduction in the interest “cap” provided by OTA75\Sch 2\Para17 (see OT04270).
PRT was permanently zero-rated from 1 January 2016 (FA16\S140).