http://www.legislation.gov.uk/id/ukpga/1996/8

Part V Inheritance tax

183 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
200,000
Nil
200,000
40

Table of Rates of Tax
Portion of value	Rate of tax
Lower limit	Upper limit	Per cent.
£	£
0	200,000	Nil
200,000		40

2

Subsection (1) above shall apply to any chargeable transfer made on or after 6th April 1996; 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 1994 and that for the month of September 1995.