Capital Transfer Tax (‘CTT’)

The ambit of CTT is wide and it is not confined to the UK. CTT applies to both gifts made inter vivos and also to transfers on death. Subject to a few exemptions and reliefs CTT can affect many situations some of which at first sight may not have any CTT implications. This section considers CTT in the international context rather than detailing its computations and local UK aspects. CTT was introduced by F (No. 1) A 1975 and unless otherwise stated all references in this Section are to that Act.