{
  "url": "https://openlegislation.uk/finance-act-1986/schedule-19/paragraph-43",
  "json_url": "https://openlegislation.uk/finance-act-1986/schedule-19/paragraph-43.json",
  "legislation": "ukpga/1986/41",
  "legislation_title": "Finance Act 1986",
  "legislation_url": "https://openlegislation.uk/finance-act-1986",
  "path": "schedule/19/paragraph/43",
  "kind": "paragraph",
  "number": "43",
  "heading": null,
  "text": "(1) This paragraph applies if, in the case of a settlement,—\n(a) tax is charged under section 65 of the 1984 Act on an occasion falling on or after 18th March 1986; and\n(b) the rate at which tax is so charged falls to be determined under section 69 of that Act (rate between ten-year anniversaries) by reference to the rate (in this paragraph referred to as “the last ten-year rate”) at which tax was last charged under section 64 of that Act (or would have been charged apart from section 66(2) there of); and\n(c) the most recent ten-year anniversary fell before 18th March 1986.\n(2) For the purpose of determining the rate at which tax is charged on the occasion referred to in sub-paragraph (1)(a) above, it shall be assumed that the last ten-year rate was what that rate would have been if, immediately before the ten-year anniversary referred to in sub-paragraph (1)(c) above, the amendments of sections 66 and 67 of the 1984 Act contained in Part I of this Schedule had been in force.\n(3) Where this paragraph applies, paragraph 3 of Schedule 2 to the 1984 Act shall have effect as if—\n(a) references to a reduction included reference to a reduction by the substitution of a new Table in Schedule 1 to the 1984 Act; and\n(b) in relation to a reduction resulting from the subsitution of such a new Table, the reference to the second of the Tbles in Schedule 1 to the 1984 Act were a reference to a Table in which the rates of tax were one-half of those specified in the new Table.\n(4) In this paragraph “ten-year anniversary” has the same meannig as in Chapter III of Part III of the 1984 Act.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/41/schedule/19/paragraph/43",
    "retrieved_at": "2026-10-29T09:56:06.979637+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}