Hide Nav Show Nav
SOLR_PROP

Finance Act, 1991

Amendment of Second Schedule to the Principal Act.

115.—(1) The Second Schedule to the Principal Act (as amended by section 111 of the Finance Act, 1984 ) is hereby amended by the substitution of the following Part for Part II:

“PART II

TABLE

Portion of Value

Rate of tax

Per cent.

The threshold amount

Nil

The next £10,000

20

The next £40,000

30

The next £50,000

35

The balance

40

”.

(2) This section shall have effect in relation to gifts and inheritances taken on or after the 30th day of January, 1991.