Chwilio Deddfwriaeth

Finance Act 1988

 Help about what version

Pa Fersiwn

 Help about advanced features

Nodweddion Uwch

 Help about opening options

Dewisiadau AgorExpand opening options

Changes over time for: Cross Heading: Inheritance tax

 Help about opening options

Alternative versions:

Status:

Point in time view as at 21/07/2008.

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 1988, Cross Heading: Inheritance tax. Help about Changes to Legislation

Inheritance taxU.K.

136 Reduction of rates.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 value Rate of tax
Lower limitUpper limitPer cent.
£ £
0 110,000 Nil
110,000 40

(2)Subsection (1) above shall apply to any chargeable transfer made on or after 15th March 1988, and section 8(1) of the M2Inheritance Tax Act 1984 (indexation of rate bands) shall not apply to chargeable transfers made in the year beginning 6th April 1988.

(3)Section 8(1A) of that Act shall cease to have effect.

Marginal Citations

137 Gifts to political parties.U.K.

(1)In section 24(1) of the Inheritance Tax Act 1984 (exemption from tax for gifts to political parties) paragraph (b) (which limits the exemption to £100,000 in respect of gifts on or within one year of the death of the transferor) shall cease to have effect.

(2)This section shall have effect in relation to transfers of value made on or after 15th March 1988.

Yn ôl i’r brig

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open y Ddeddf Gyfan

Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?