Finance Act 1987
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
57 Reduced rates of tax.
(1) In the Inheritance Tax Act 1984 (in this Part of this Act referred to as “the 1984 Act”) section 8(1) (indexation of rate bands) shall not apply to chargeable transfers made in the year beginning 6th April 1987. (2) For the Table in Schedule 1 to that Act there shall be substituted the Table set out below: Table of Rates of Tax Portion of value | Rate of tax Lower limit | Upper limit | Per cent £ | £ Lower Limit £ | Upper Limit £ | Per cent. 0 | 90,000 | Nil 90,000 | 140,000 | 30 140,000 | 220,000 | 40 220,000 | 330,000 | 50 330,000 | 60 (3) Subsection (2) above applies to any chargeable transfer (within the meaning of the 1984 Act) made on or after 17th March 1987.
57 Reduced rates of tax.
(1) In the Inheritance Tax Act 1984 (in this Part of this Act referred to as “the 1984 Act”) section 8(1) (indexation of rate bands) shall not apply to chargeable transfers made in the year beginning 6th April 1987. (2) For the Table in Schedule 1 to that Act there shall be substituted the Table set out below: Table of Rates of Tax Portion of value | Rate of tax Lower limit | Upper limit | Per cent £ | £ Lower Limit £ | Upper Limit £ | Per cent. 0 | 90,000 | Nil 90,000 | 140,000 | 30 140,000 | 220,000 | 40 220,000 | 330,000 | 50 330,000 | 60 (3) Subsection (2) above applies to any chargeable transfer (within the meaning of the 1984 Act) made on or after 17th March 1987.
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