PART IIIIncome Tax, Corporation Tax and Capital Gains Tax
CHAPTER IGeneral
20Charge of income tax for 1982-83
1
Income tax for the year 1982-83 shall be charged at the basic rate of 30 per cent.; and—
a
in respect of so much of an individual's total income as exceeds £12,800 at such higher rates as are specified in the Table below; and
b
in respect of so much of the investment income included in an individual's total income as exceeds £6,250 at the additional rate of 15 per cent.
Part of excess over £12,800 | Higher rate |
---|---|
The first £2,300 | 40 per cent. |
The next £4,000 | 45 per cent. |
The next £6.200 | 50 per cent. |
The next £6,200 | 55 per cent. |
The remainder | 60 per cent. |
2
Section 24(4) of the [1980 c. 48.] Finance Act 1980 (increase of basic rate limit, higher rate bands and investment income threshold) shall not apply for the year 1982-83.