- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
539For section 539 (relief for deficiencies) substitute—
(1)An individual is entitled to a tax reduction for a tax year in which a deficiency arises from a policy or contract on a chargeable event if—
(a)the condition in subsection (2) is met,
(b)the individual would (apart from this section) be liable to income tax at the higher rate or the dividend upper rate (or both) for the tax year, and
(c)the individual makes a claim.
(2)The condition is that, if a gain had arisen instead on the chargeable event—
(a)the individual would have been liable to income tax on the gain for the year, or
(b)the individual would have been so liable apart from the requirement in section 465(1) that the individual must be UK resident in the tax year in which the gain arises.
(3)The tax reduction is given effect at Step 6 of the calculation in section 23 of ITA 2007.
(4)See section 540 for the cases in which a deficiency is treated as arising from a policy or contract on a chargeable event, section 541 for how the deficiency is calculated and section 469(5) for the apportionment of deficiencies in cases where two or more persons are interested in a policy or contract.
(5)The amount of the tax reduction is calculated as follows.
Step 1
Attribute to the amount of the deficiency an amount of the individual’s income for the tax year which is liable at the dividend upper rate, so far as is possible.
Step 2
If there is an amount of the deficiency remaining after Step 1, attribute to the remaining amount of the deficiency an amount of the individual’s savings income for the tax year which is liable at the higher rate, so far as is possible.
Step 3
If there is an amount of the deficiency remaining after Step 2, attribute to the remaining amount of the deficiency an amount of the individual’s other income for the tax year which is liable at the higher rate, so far as is possible.
Step 4
Calculate the amount of the individual’s preliminary income tax liability for the tax year (see subsection (6)).
Step 5
Calculate the amount of the individual’s preliminary income tax liability for the tax year again, on these assumptions—
Assume that any income attributed to the deficiency at Step 1 is liable at the dividend ordinary rate.
Assume that any income attributed to the deficiency at Step 2 is liable at the savings rate.
Assume that any income attributed to the deficiency at Step 3 is liable at the basic rate.
Step 6
Deduct the amount found at Step 5 from the amount found at Step 4.
The result is the amount of the tax reduction.
(6)The individual’s preliminary income tax liability is the amount found by calculating the individual’s income tax liability in accordance with section 23 of ITA 2007, ignoring Steps 6 and 7 of that calculation.”
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Testun a grëwyd gan yr adran o’r llywodraeth oedd yn gyfrifol am destun y Ddeddf i esbonio beth mae’r Ddeddf yn ceisio ei wneud ac i wneud y Ddeddf yn hygyrch i ddarllenwyr nad oes ganddynt gymhwyster cyfreithiol. Cyflwynwyd Nodiadau Esboniadol ym 1999 ac maent yn cyd-fynd â phob Deddf Gyhoeddus ac eithrio Deddfau Adfeddiannu, Cronfa Gyfunol, Cyllid a Chyfnerthiad.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
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