SCHEDULES

SCHEDULE 2Transitionals and savings

Part 3Rates at which income tax is charged

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In relation to the tax year 2007-08 or any subsequent tax year—

a

references in an enactment, instrument or document to the lower rate are to be read as references to the savings rate, and

b

references in an enactment, instrument or document to the rate applicable to trusts are to be read as references to the trust rate.