(1)In subsection (1) of section 347B of the Taxes Act 1988 (income tax reduction in respect of qualifying maintenance payments), at the beginning there shall be inserted “ Subject to subsection (1A) below ”.
(2)After that subsection there shall be inserted the following subsection—
“(1A)A periodical payment is not a qualifying maintenance payment unless either of the parties to the marriage mentioned in subsection (1)(b) above was born before 6th April 1935.”
(3)In subsection (2) of that section, for “subsections (3) and (4)” there shall be substituted “ subsection (3) ”.
(4)In subsection (3) of that section, for “section 257A(1)” there shall be substituted “ section 257A(5A) ”.
(5)In subsection (5A) of that section, for “subsections (2) to (5)” there shall be substituted “ subsections (2) and (3) ”.
(6)In subsection (8) of that section, for “subsections (1)(a) and (5)(a)” there shall be substituted “ subsection (1)(a) ”.
(7)Sections 347A and 347B of the Taxes Act 1988 shall have effect, notwithstanding anything in subsection (3) of section 36 of the M1Finance Act 1988 (which provides for the application of those sections), in relation to a payment made in pursuance of an existing obligation (within the meaning of that subsection) as they have effect in relation to a payment made otherwise than in pursuance of such an obligation.
(8)This section has effect in relation to any payment falling due on or after 6th April 2000.