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Discounted gift schemes
Since the publication in May 2007 of HMRC's technical note on discounted gift schemes, both the Bank of England base rate and yields on gilts have continued to rise. In the light of these increases, HMRC proposes to increase the valuation rate of interest used in connection with valuing the retained rights under discounted gift schemes to 6.75% from 1 September 2007. This returns the differential over short term gilts to 1% as at 13 July 2007.
Discounted gift schemes
Since the publication in May 2007 of HMRC's technical note on discounted gift schemes, both the Bank of England base rate and yields on gilts have continued to rise. In the light of these increases, HMRC proposes to increase the valuation rate of interest used in connection with valuing the retained rights under discounted gift schemes to 6.75% from 1 September 2007. This returns the differential over short term gilts to 1% as at 13 July 2007.
HMRC say that any enquiries should be directed to Phil Oxlade, tel: 0115 974 2950 or Ian Hempstead, tel: 0115 974 2939.
www.hmrc.gov.uk
