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Finance Act, 1968

PART III

Death Duties

Abatement of estate duty.

25.—(1) Section 29 of the Finance Act, 1965 , is hereby amended by—

(a) the substitution of “£1,000” for “£350” and of “£500” for “£250” in each place where they respectively occur in subsections (2), (3) and (4) (which subsections were inserted by the Finance Act, 1966 ), and

(b) the substitution of “£100,000” for “£25,000” (inserted by the Finance Act, 1966 ) in subsection (6).

(2) Section 19 of the Finance Act, 1966 , is hereby amended by the substitution of “£100,000” for “£25,000” in subsection (1) (c).

(3) This section shall have effect only in relation to benefits (within the meaning of the said section 29) accruing on or after the 1st day of April, 1968.