http://www.legislation.gov.uk/id/ukpga/2002/23

Part 5Other taxes

Inheritance tax

118 IHT: rate bands

1

For the Table in Schedule 1 to the Inheritance Tax Act 1984 (c. 51) substitute—

Table of Rates of Tax
Portion of value
Rate of tax
Lower limit (£)
Upper limit (£)
Per cent.
0
250,000
Nil
250,000
40

Portion of value	Rate of tax
Lower limit (£)	Upper limit (£)	Per cent.
0	250,000	Nil
250,000		40

2

Subsection (1) shall apply to any chargeable transfer made on or after 6th April 2002; and section 8(1) 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 2000 and that for the month of September 2001.