Finance Act, 1997

Amendment of section 117 (reduction of market value of certain dwellings) of Finance Act, 1991 .

138.—(1) Section 117 of the Finance Act, 1991 (as amended by section 144 of the Finance Act, 1994 ), is hereby amended by the substitution in subsection (1) of “£80,000” for “£60,000”.

(2) This section shall have effect in relation to inheritances taken on or after the date of the passing of this Act.