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 Act(b) in relation to chargeable transfers on or after 6th April 1988 are as follows—
TABLE OF RATES OF TAX
| Portion of value | Rate of tax | |
|---|---|---|
| Lower Limit | Upper Limit | Per cent |
| £ | £ | |
| 0 | 94,000 | Nil |
| 94,000 | 146,000 | 30 |
| 146,000 | 229,000 | 40 |
| 229,000 | 343,000 | 50 |
| 343,000 | — | 60 |