Section 208 | Indexation of rate bands

(1)Section 8 of IHTA 1984 (indexation of rate bands) is amended as follows.

(2)In subsection (1), for “retail prices index for the month of September in 1993 or any later year” substitute “ consumer prices index for the month of September in any year ”.

(3)In subsection (2), for “retail prices index” substitute “ consumer prices index ”.

(4)For subsection (3) substitute—

(3)In this section, “consumer prices index” means the all items consumer prices index published by the Statistics Board.

(5)The amendments made by this section have effect for the purposes of chargeable transfers made on or after 6 April 2015.