- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2014. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
(1)Income tax is charged for the tax year 2014-15.
(2)For that tax year—
(a)the basic rate is 20%,
(b)the higher rate is 40%, and
(c)the additional rate is 45%.
(3)For that tax year—
(a)the amount specified in section 10(5) of ITA 2007 (basic rate limit) is replaced with “ £31,865 ”, and
(b)the amount specified in section 35(1) of that Act (personal allowance for those born after 5 April 1948) is replaced with “ £10,000 ”.
(4)Accordingly for that tax year—
(a)section 21 of that Act (indexation of limits), so far as relating to the basic rate limit, does not apply, and
(b)section 57 of that Act (indexation of allowances), so far as relating to the amount specified in section 35(1) of that Act, does not apply.
(1)For the tax year 2015-16—
(a)the amount specified in section 10(5) of ITA 2007 (basic rate limit) is replaced with “ £31,785 ”, and
(b)the amount specified in section 35(1) (personal allowance) is replaced with [F1“£10,600”].
(2)Accordingly, for that tax year—
(a)section 21 of that Act (indexation of limits), so far as relating to the basic rate limit, does not apply, and
(b)section 57 (indexation of allowances), so far as relating to the amount specified in section 35(1), does not apply.
(3)In section 34(1)(a) of that Act (introduction), omit “, 36”.
(4)In section 35 of that Act (personal allowance for those born after 5 April 1948)—
(a)in subsection (1)(a), for “1948” substitute “ 1938 ”, and
(b)in the heading, for “1948” substitute “ 1938 ”.
(5)Omit section 36 of that Act (personal allowance for those born after 5 April 1938 but before 6 April 1948).
(6)In section 45(4)(b) of that Act (marriages before 5 December 2005), omit “36(2) or”.
(7)In section 46(4)(b) of that Act (marriages and civil partnerships on or after 5 December 2005), omit “36(2) or”.
(8)In section 57 of that Act (indexation of allowances)—
(a)in subsection (1)(a), for “1948” substitute “ 1938 ”, F2...
[F3(aa)in subsection (1)(h), omit “36(2),”, and]
(b)in subsection (4) omit “36(2),”.
(9)The amendments made by subsections (3) to (8) have effect for the tax year 2015-16 and subsequent tax years.
Textual Amendments
F1Sum in s. 2(1)(b) substituted (26.3.2015) by Finance Act 2015 (c. 11), s. 3(2)
F2Word in s. 2(8)(a) omitted (with effect in accordance with s. 3(5) of the amending Act) by virtue of Finance Act 2015 (c. 11), s. 3(3)
F3S. 2(8)(aa) inserted (with effect in accordance with s. 3(5) of the amending Act) by Finance Act 2015 (c. 11), s. 3(3)
(1)In section 7 of ITA 2007 (the starting rate for savings) for “10%” substitute “ 0% ”.
(2)For the tax year 2015-16 the amount specified in section 12(3) of that Act (starting rate limit for savings) is replaced with “ £5,000 ”.
(3)Accordingly section 21 of that Act (indexation of limits), so far as relating to the starting rate limit for savings, does not apply for that tax year.
F4(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)The amendments made by subsections (1) and (4) have effect for the tax year 2015-16 and subsequent tax years.
Textual Amendments
F4S. 3(4) omitted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 6 para. 25(d)
(1)ITA 2007 is amended as follows.
(2)In section 21 (indexation of the basic rate limit and starting rate limit for savings)—
(a)in each of subsections (1), (3) and (3A), for “retail prices index” substitute “ consumer prices index ”, and
(b)after subsection (5) insert—
“(6)In this section “consumer prices index” means the all items consumer prices index published by the Statistics Board.”
(3)In section 57 (indexation of allowances)—
(a)in each of subsections (2), (3) and (4), for “retail prices index” substitute “ consumer prices index ”, and
(b)after subsection (6) insert—
“(7)In this section “consumer prices index” means the all items consumer prices index published by the Statistics Board.”
(4)The amendments made by subsections (2) and (3) have effect for the tax year 2015-16 and subsequent tax years.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Ddeddf Gyfan heb Atodlenni you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
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.
Rhychwant ddaearyddol: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Dangos Llinell Amser Newidiadau: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
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:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys