http://www.legislation.gov.uk/id/ukpga/1992/48

Part III Miscellaneous and General

Inheritance tax

72 Increase of rate bands.

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

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.