1. This Order may be cited as the Inheritance Tax (Indexation) Order 2001.
2. The amounts which, unless Parliament otherwise determines, will be treated by virtue of section 8 of the Inheritance Tax Act 1984 as specified in the Table in Schedule 1 to that Act(1) in relation to chargeable transfers on or after 6th April 2001 are as follows—
TABLE OF RATES OF TAX
| Portion of value | Rate of tax | |
|---|---|---|
| Lower Limit | Upper Limit | Per cent. |
| £ | £ | £ |
| 0 | 242,000 | NIL |
| 242,000 | — | 40 |
Jim Dowd
Greg Pope
Two of the Lords Commissioners of Her Majesty’s Treasury
7th March 2001