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

Income tax rates and charge etc. U.K.

25 Operative date of indexation for PAYE. U.K.

(1) The Taxes Act 1988 shall be amended in accordance with subsections (2) and (3) below.

F1 (2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) In section 257C (indexation of allowances), after subsection (1) there shall be inserted—

“(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.”

(4) This section has effect for the year 1999-00 and subsequent years of assessment.

Textual Amendments

F1 S. 25(2) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)