Section 183 | Rate bands.

From legislation.gov.uk

(1)For the Table in Schedule 1 to the Inheritance Tax Act 1984 there shall be substituted—

Table shown as text

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.