(1)If the retail prices index for the month of [F1September] preceding a year of assessment is higher than it was for the previous [F1September], then, unless Parliament otherwise determines, [F2sections 257, [F3257AA(2) and (2A)] and 257A] shall apply for that year as if for each amount specified in them as they applied for the previous year (whether by virtue of this section or otherwise) there were substituted an amount arrived at by increasing the amount for the previous year by the same percentage as the percentage increase in the retail prices index, and—
(a)if in the case of an amount specified in sections 257(5) and 257A(5) the result is not a multiple of £100, rounding it up to the nearest amount which is such a multiple;
(b)if in the case of any other amount the increase is not a multiple of £10, rounding the increase up to the nearest amount which is such a multiple.
F4(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F5(2A)Subsection (1) above shall not require any change to be made in the amounts deductible or repayable under section 203 during the period beginning with 6th April and ending with 17th May in the year of assessment.]
(3)The Treasury shall in each year of assessment make an order specifying the amounts which by virtue of subsection (1) above will be treated as specified for the following year of assessment in [F2sections 257, [F3257AA(2) and (2A)] and 257A].
[F6(4)This section shall have effect in relation to reliefs for the year 1990-91 (as well as for later years);and for that purpose it shall be assumed that sections 257and 257Aapplied for the year 1989-90as they apply, apart from this section, for the year 1990-91.]
Textual Amendments
F1Words in s. 257C(1) substituted (27.7.1993 with effect for the year 1994-95 and subsequent years of assessment) by 1993 c. 34, s. 107(3)(a)(8)
F2Words in s. 257C(1)(3) substituted (2002-03 and subsequent years of assessment) by Finance Act 1999 (c. 16), s. 30(3)(6)
F3Words in s. 257C(1)(3) substituted (2003-04 and subsequent years of assessment in accordance with s. 53(7) of the amending Act) by Finance Act 2001 (c. 9), s. 53(4)
F4S. 257C(2) repealed (27.7.1993 with effect for the year 1994-95 and subsequent years of assessment) by 1993 c. 34, ss. 107(3)(b)(8), 213, Sch. 23 Pt.III
F5S. 257C(2A) inserted (1999-00 and subsequent years of assessment) by Finance Act 1999 (c. 16), s. 25(3)(4)
F6 Repealed by 1990 s.132and Sch.19 Part IV.
Modifications etc. (not altering text)
C1S. 257B-262 restricted (with effect as mentioned in s. 77(7) of the amending Act) by Finance Act 1994 (c. 9), Sch. 8 para. 4(1)
C2S. 257C applied (2000-01 and subsequent years of assessment) by Finance Act 1999 (c. 16), s. 32(5)
C3S. 257C(1) excluded (1991-92) by Finance Act 1991 (c. 31, SIF 63:1), s. 22(1)
S. 257C(1) excluded (1992-93) by Finance Act 1992 (c. 20), s. 10(3)(5)
S. 257C(1) excluded (1993-94) by Finance Act 1993 c. 34, s. 52
S. 257C(1) excluded (1994-95) by Finance Act 1994 (c. 9), s. 76
S. 257C(1) excluded (1994-95, 1995-96) by Finance Act 1994 (c. 9), s. 77(10)
S. 257C(1) excluded (1994-95) by Finance Act 1994 (c. 9), s. 78
S. 257C(1) excluded (1995-96) by Finance Act 1995 (c. 4), s. 36
S. 257C(1) excluded (1996-97) by Finance Act 1996 (c. 8), s. 74(1)
S. 257C(1) excluded (1997-98) by Finance Act 1997 (c.16), s. 55(1)
S. 257C(1) excluded (1999-00) by Finance Act 1999 (c. 16), s. 24(2)
S. 257C(1) excluded (2003-04) by Finance Act 2002 (c. 23), ss. 28(2), 29(2)
S. 257C(1) excluded (2004-05) by Finance Act 2004 (c. 12), s. 24(2)
S. 257C(1) excluded (2005-06) by Finance Act 2005 (c. 7), s. 9
S. 257C excluded (2008-09) by Finance Act 2008 (c. 9), ss. 2(2)(b), 3(2)(b)
S. 257C excluded (2009-10) by Finance Act 2009 (c. 10), s. 3(2)(b)
C4S. 257C(2A) modified (2002-03) by Finance Act 2002 (c. 23), s. 27(b)
C5 See S.I. 1990 No.677in Part III Vol.5for 1990-91.