Part II Income Tax, Corporation Tax and Capital Gains Tax
Chapter I General
Income tax rates and allowances
17 Rates and main allowances.
(1)
Income tax shall be charged for the year 1990-91, and—
(a)
the basic rate shall be 25 per cent.;
(b)
the basic rate limit shall be £20,700;
(c)
the higher rate shall be 40 per cent.; and
(d)
section 1(4) of the Taxes Act 1988 (indexation of basic rate limit) shall not apply.
F1(2)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)
In section 828 of that Act (orders and regulations), in subsection (4), for “257(11)” there shall be substituted “
257C
”
.
(4)
Subsections (2) and (3) above shall have effect for the year 1990-91 and subsequent years of assessment.
18 Relief for blind persons.
In section 265(1) of the Taxes Act 1988, for “£540” there shall be substituted “
£1,080
”
.