Section 197 | Rate bands: indexation for 1994 onwards.

(1)In section 8 of the Inheritance Tax Act 1984 (indexation of rate bands)—

(a)in subsection (1) for “December in 1984” there shall be substituted “ September in 1993 ” and for “previous December” there shall be substituted “ previous September ”;

(b)in subsection (3) for “December” there shall be substituted “ September ”;

(c)in subsection (4) for “1985” there shall be substituted “ 1994 ”.

(2)This section shall apply in relation to chargeable transfers made on or after 6th April 1994.