Finance Act, 2000

Amendment of section 109 (interpretation) of Finance Act, 1993.

147.—(1) Section 109 of the Finance Act, 1993 , is amended—

(a) by the substitution in the definition of “the consumer price index number” of “mid-November 1996” for “mid-November, 1989”, and

(b) by the substitution of the following definition for the definition of “relevant threshold”:

“‘relevant threshold’ means—

(a) £40,000, where the death of the deceased occurred on or before 31 December 2000, and

(b) in any other case, £40,000 multiplied by the figure, rounded up to the nearest third decimal place, determined by dividing by 104.8 the consumer price index number for the year immediately preceding the year in which the death of the deceased occurred;”.

(2) This section shall apply and have effect in relation to persons dying on or after 1 December 1999.