# Finance (No. 2) Act 1992, Section 72: Increase of rate bands.


(1) For the Table in Schedule 1 to the Inheritance Tax Act 1984 there shall be substituted—
“
TABLE OF RATES OF TAX
Portion of value
Rate of tax
Lower limit
Upper limit
Per cent.
£
£
0
150,000
Nil
150,000
40
”
(2) Subsection (1) above shall apply to any chargeable transfer made on or after 10th March 1992, 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 1992.

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Source: https://www.legislation.gov.uk/ukpga/1992/48/section/72 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-1992/section-72
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.