Finance Act, 1972

Amendment of section 24 of Finance Act, 1965.

28.—In the case of persons dying on or after the 19th day of April, 1972, section 24 (1) of the Finance Act, 1965 , is hereby amended—

(a) by the substitution for paragraph (d) (i) of the following paragraph:

“(d) (i) Where the aggregate value of all death benefits payable on a death to or for the benefit of the widow or dependent children of the deceased does not exceed £7,500, the benefits so payable shall be exempt from estate duty.”,


(b) by the substitution of “£7,500” for “£5,000” in both places where it occurs in paragraph (d) (ii),

and appropriate repayments shall be made accordingly.