Article 2
The amounts which, unless Parliament otherwise determines, shall be treated by virtue of section 8 of the Inheritance Tax Act 1984 as specified in the Table in Schedule 1 to that Actf1 in relation to chargeable transfers on or after 6th April 1987 are as follows—
Table of Rates of Tax
| Portion of value | Rate of Tax | |
|---|---|---|
| Lower Limit | Upper Limit | Per cent. |
| £ | £ | |
| 0 | 74,000 | Nil |
| 74,000 | 99,000 | 30 |
| 99,000 | 134,000 | 35 |
| 134,000 | 171,000 | 40 |
| 171,000 | 214,000 | 45 |
| 214,000 | 267,000 | 50 |
| 267,000 | 329,000 | 55 |
| 329,000 | — | 60 |
Annotations
Footnotes
- f1
-
The Table in Schedule 1 was substituted by section 101(3) of, and Schedule 19 paragraph 36 to, the Finance Act 1986 with respect to transfers of value made, and other events occurring, on or after 18th March 1986 subject to Part II of Schedule 19.