SCHEDULES

SCHEDULE 6 Taxation of savings at the lower rate

The Taxes Act 1988

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In section 743(1) of that Act (supplemental provisions relating to transfers of assets abroad)—

a

after the words “the basic rate”, in the first place where they occur, there shall be inserted “ or the lower rate ”; and

b

for “income that has borne tax at the basic rate”, there shall be substituted “ any income to the extent that it has borne tax at that rate ”.