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Part IIIU.K. Miscellaneous and General

Inheritance taxU.K.

72 Increase of rate bands.U.K.

(1)For the Table in Schedule 1 to the M1Inheritance Tax Act 1984 there shall be substituted—

TABLE OF RATES OF TAX
Portion of valueRate of tax
Lower limitUpper limitPer cent.
££
0150,000Nil
150,00040

(2)Subsection (1) above shall apply to any chargeable transfer made on or after 10th March 1992, and section 8(1) of the Inheritance Tax Act 1984 (indexation of rate bands) shall not apply to chargeable transfers made in the year beginning 6th April 1992.

Marginal Citations

73 Business and agricultural property relief.U.K.

Schedule 14 to this Act (which makes provision in relation to relief in respect of business property and agricultural property) shall have effect.