Finance Act 1990 (c. 29)

Part II U.K. Income Tax, Corporation Tax and Capital Gains Tax

Chapter I U.K. General

Income tax rates and allowances U.K.

17 Rates and main allowances. U.K.

(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.

Textual Amendments

F1 S. 17(2) repealed (27.07.1993 with effect for the year 1994-95 and subsequent years of assessment) by 1993 c. 34, ss. 107, 213, Sch. 23, Pt. III(10).