Settlement estate duty. The further estate duty (see that title) levied under ss. 5 and 17 of the (English) Finance Act, 1894 (57& 58 Vict. c. 30) (Chitty's Statutes, tit. 'Death Duties'), on settled property passing on the death of one person to another not competent to dispose of it. The rate was by the Finance (1909-10) Act, 1910, s. 54, two percent., and the further estate duty, or 'settlement estate duty,' was levied on the principal value of the settled property, with two important qualifications, being these:
(1) If the only life interest in the property after the death of the deceased were that of the wife or husband of the deceased, settlement estate duty was not leviable at all. (2) During the continuance of the settlement, the settlement estate duty was not payable more than once.
The duty was abolished by the Finance Act, 1914, s. 14, in the case of persons dying after 11th May, 1914.
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