Part III

Miscellaneous and General

Inheritance tax

Increase of rate bands.
72
1
For the Table in Schedule 1 to the Inheritance Tax Act 1984 there shall be substituted—

TABLE OF RATES OF TAX
Portion of value | Rate of tax
Lower limit | Upper limit | Per cent.
£ | £ | | |
0 | 150,000 | Nil
150,000 | | 40
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.
1984 c. 51.