(1)Sections 257 to 257F and 265 of the M1Taxes Act 1988,as inserted for the year 1990-91 and subsequent years by the Finance Act 1988,shall be amended as follows.
(2)In section 257(1) for “£2,605” there shall be substituted “£2,785”.
(3)In section 257(2) for “£3,180” there shall be substituted “£3,400”.
(4)In section 257(3)—
(a)for “80” there shall be substituted “75”, and
(b)for “£3,310” there shall be substituted “£3,540”.
(5)In section 257(5)—
(a)for “£10,600” there shall be substituted “£11,400”,and
(b)for “two-thirds” there shall be substituted “one half”.
(6)In section 257A(1) for “£1,490” there shall be substituted “£1,590”.
(7)In section 257A(2) for “£1,855” there shall be substituted “£1,985”.
(8)In section 257A(3)—
(a)for “80” there shall be substituted “75”, and
(b)for “£1,895” there shall be substituted “£2,025”.
(9)In section 257A(5)—
(a)for “£10,600” there shall be substituted “£11,400”,and
(b)for “two-thirds” there shall be substituted “one half”.
(10)In sections F1. . . 257D(8) and 265(3) after paragraph (b) there shall be inserted “or
(c)on account of any payments to which section 593(2) or 639(3) applies,”.
(11)In section 257E(1)(b) for “80” there shall be substituted “75”.
(12)In section 257E(2)(a) for “£3,180” there shall be substituted “£3,400”.
(13)In section 257E(2)(b) for “£3,310” there shall be substituted “£3,540”.
Textual Amendments
F1Words in s. 33(10) repealed (16.7.1992) by virtue of Finance (No. 2) Act 1992 (c. 48), ss. 20, 82, Sch. 5 para. 10, Sch. 18 Pt.VII(1)
Modifications etc. (not altering text)
C1 See Income and Corporation Taxes Act 1988 (c. 1,SIF 63:1), s. 257for 1989–1990and see Income andCorpartion Taxes Act 1988 (c. 1, SIF 63:1), 257–257Ffor1990–1991
Marginal Citations