{
  "url": "https://openlegislation.uk/finance-act-1988/section-136",
  "json_url": "https://openlegislation.uk/finance-act-1988/section-136.json",
  "legislation": "ukpga/1988/39",
  "legislation_title": "Finance Act 1988",
  "legislation_url": "https://openlegislation.uk/finance-act-1988",
  "path": "section/136",
  "kind": "section",
  "number": "136",
  "heading": "Reduction of rates.",
  "text": "(1) For the Table in Schedule 1 to the Inheritance Tax Act 1984 there shall be substituted—\n“\nTable of Rates of Tax\nPortion of value\nRate of tax\nLower limit\nUpper limit\nPer cent.\n£\n£\n0\n110,000\nNil\n110,000\n40\n”\n(2) Subsection (1) above shall apply to any chargeable transfer made on or after 15th March 1988, and section 8(1) of the Inheritance Tax Act 1984 (indexation of rate bands) shall not apply to chargeable transfers made in the year beginning 6th April 1988.\n(3) Section 8(1A) of that Act shall cease to have effect.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "1984 c. 51."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "1984 c. 51."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/39/section/136",
    "retrieved_at": "2026-10-29T09:47:50.591815+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "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."
}