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Finance (No. 2) Act 1992
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- UK Public General Acts
- 1992 c. 48
- Part III
- Inheritance tax
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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 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.
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.
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