# The Inheritance Tax (Indexation) Order 1992

S.I. 1992/625 · made 10 March 1992

This Order, made under the provisions of section 8 of the Inheritance Tax Act 1984 (formerly the Capital Transfer Tax Act 1984) substitutes a new Table of rate bands and rates in Schedule 1 to that Act for the Table which was substituted by the Inheritance Tax (Indexation) Order 1991 (S.I.1991/735). The figures in the first and second columns of the new Table are the amounts specified in the Table in Schedule 1 to the Inheritance Tax Act 1984 (as so substituted) increased by the amount of the percentage increase inthe retail prices index for December 1991 over that for December 1990. The figures are rounded upward to the nearest £1,000 in accordance with section 8(2). The “retail prices index” is defined in section 8(3), as amended by paragraph 5 of Schedule 2 to the Transfer of Functions (Economic Statistics) Order 1989 (S.I.1989/992), as “the general index of retail prices (for all items) published by the Central Statistical Office of the Chancellor of the Exchequer”. The retail prices index for December 1990 is 1297·9 and for December 1991 is 135·7 (based on January 1987 as 100). (Table 6.1 on page S58 of the February 1992 number of the Employment Gazette, the official journal of the Department of Employment.)

Made under: Inheritance Tax Act 1984

## Introductory text

INHERITANCE TAX
Made 10th March 1992
The Treasury, in pursuance of section 8(4) of the Inheritance Tax Act 1984, hereby make the following Order:

## 1 

This Order may be cited as the Inheritance Tax (Indexation) Order 1992.

## 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 in relation to chargeable transfers on or after 6th April 1992 are as follows—
TABLE OF RATES OF TAX
Portion of value
Lower Limit
Upper Limit
Rate of tax
Per cent.
£
£
0
147,000
NIL
147,000
—
40

## Signature

Gregory Knight
Thomas Sackville
Two of the Lords Commissioners of Her Majesty’s Treasury
10th March 1992

## Explanatory note

(This note is not part of the Order)
This Order, made under the provisions of section 8 of the Inheritance Tax Act 1984 (formerly the Capital Transfer Tax Act 1984) substitutes a new Table of rate bands and rates in Schedule 1 to that Act for the Table which was substituted by the Inheritance Tax (Indexation) Order 1991 (S.I.1991/735). The figures in the first and second columns of the new Table are the amounts specified in the Table in Schedule 1 to the Inheritance Tax Act 1984 (as so substituted) increased by the amount of the percentage increase inthe retail prices index for December 1991 over that for December 1990. The figures are rounded upward to the nearest £1,000 in accordance with section 8(2). The “retail prices index” is defined in section 8(3), as amended by paragraph 5 of Schedule 2 to the Transfer of Functions (Economic Statistics) Order 1989 (S.I.1989/992), as “the general index of retail prices (for all items) published by the Central Statistical Office of the Chancellor of the Exchequer”. The retail prices index for December 1990 is 1297·9 and for December 1991 is 135·7 (based on January 1987 as 100). (Table 6.1 on page S58 of the February 1992 number of the Employment Gazette, the official journal of the Department of Employment.)
The new Table will apply in relation to chargeable transfers on or after 6th April 1992 unless Parliament otherwise determines.

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Source: https://www.legislation.gov.uk/uksi/1992/625 (the official version)
Page: https://openlegislation.uk/inheritance-tax-indexation-order-1992
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.