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PART VE+W+SINCOME AND CAPITAL

Modifications etc. (not altering text)

[F1CHAPTER IVAE+W+SPARTICIPANTS IN THE SELF-EMPLOYMENT ROUTEF2...

Textual Amendments

Deduction in respect of tax for participants in the self-employment routeF3...E+W+S

39D.—(1) The amount to be deducted in respect of income tax under regulation 39C(1)(a) (calculation of income of participants in the self-employment routeF4...) in respect of the period determined under regulation 39C(2) shall be calculated as if—

(a)the chargeable income is the only income chargeable to tax;

[F5(b)the personal allowance applicable to the person receiving assistance under the self-employment route by virtue of section 257(1) of the Income and Corporation Taxes Act 1988 (personal allowance) is allowable against that income;]

(c)the rate at which the chargeable income less the personal relief is assessable to income tax is the [F6starting rate] of tax or, as the case may be, the [F6starting rate] and the basic rate of tax.

(2) For the purpose of paragraph (1), the [F7starting rate] of tax to be applied and the amount of the [F8personal allowance] deductible shall, where the period determined under regulation 39C(2) is less than a year, be calculated on a pro rata basis.

(3) In this regulation, “chargeable income" means the monies in the special account at the end of the last day upon which assistance was received under the self-employment route.]

Textual Amendments