SCHEDULES

SCHEDULE 2Income tax rates

Part 2Amendments of other Acts

F(No.2)A 2005

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In section 7(5) of F(No.2)A 2005 (charge to income tax on social security pension lump sum)—

a

in paragraph (d), after “basic rate limit for that year” insert “ but does not exceed the higher rate limit for that year ”, and

b

after that paragraph insert—

e

if P's Step 3 income for that year of assessment exceeds the higher rate limit for that year, the additional rate for that year.