{
  "url": "https://openlegislation.uk/finance-act-1987/section-57",
  "json_url": "https://openlegislation.uk/finance-act-1987/section-57.json",
  "legislation": "ukpga/1987/16",
  "legislation_title": "Finance Act 1987",
  "legislation_url": "https://openlegislation.uk/finance-act-1987",
  "path": "section/57",
  "kind": "section",
  "number": "57",
  "heading": "Reduced rates of tax.",
  "text": "(1) In the Inheritance Tax Act 1984 (in this Part of this Act referred to as “the 1984 Act”) section 8(1) (indexation of rate bands) shall not apply to chargeable transfers made in the year beginning 6th April 1987.\n(2) For the Table in Schedule 1 to that Act there shall be substituted the Table set out below:\n“\nTable of Rates of Tax\nPortion of value\nRate of tax\nLower limit\nUpper limit\nPer cent\n£\n£\nLower Limit £\nUpper Limit £\nPer cent.\n0\n90,000\nNil\n90,000\n140,000\n30\n140,000\n220,000\n40\n220,000\n330,000\n50\n330,000\n60\n”\n(3) Subsection (2) above applies to any chargeable transfer (within the meaning of the 1984 Act) made on or after 17th March 1987.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "1984 c. 51."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1987/16/section/57",
    "retrieved_at": "2026-10-29T09:52:46.435061+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}