Part III Income Tax, Corporation Tax and Capital Gains Tax

Income tax reductions

32 Further provision about married couple’s allowance.

1

In section 257BA of the Taxes Act 1988 (elections as to transfer of relief under section 257A)—

a

in subsections (1)(a), (2)(a), (3)(a) and (6), for “section 257A(1)” there shall be substituted “ section 257A(5A) ”;

b

in subsection (2), the words from “(to nil” to the end shall be omitted;

c

in subsection (9), for “deduction” there shall be substituted “ income tax reduction ”.

2

Sections 257D to 257F of that Act (transitional relief in connection with married couple’s allowance) shall cease to have effect.

3

Subsection (1)(a) and (c) above has effect for the year 1999-00 and subsequent years of assessment.

4

Subsections (1)(b) and (2) above have effect for the year 2000-01 and subsequent years of assessment.

5

Section 257C of the Taxes Act 1988 (indexation) shall apply in relation to subsection (5A) of section 257A of that Act, but only for the year 2000-01 and subsequent years of assessment.