Finance Act 1988
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
136 Reduction of rates.
(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 | 110,000 | Nil 110,000 | 40 (2) Subsection (1) above shall apply to any chargeable transfer made on or after 15th March 1988, 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 1988. (3) Section 8(1A) of that Act shall cease to have effect.
136 Reduction of rates.
(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 | 110,000 | Nil 110,000 | 40 (2) Subsection (1) above shall apply to any chargeable transfer made on or after 15th March 1988, 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 1988. (3) Section 8(1A) of that Act shall cease to have effect.
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