Part VI

Inheritance Tax

Rate bands.
93
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
Lower limit (£) | Upper limit (£)
| | Rate of tax
| | Per cent.
0 | 215,000 | Nil
215,000 | | 40
2
Subsection (1) above shall apply to any chargeable transfer made on or after 6th April 1997; and section 8 of that Act (indexation of rate bands) shall not have effect as respects any difference between the retail prices index for the month of September 1995 and that for the month of September 1996.
1984 c. 51.