Part III Income Tax, Corporation Tax and Capital Gains Tax
Chapter II Other provisions
Other relieving provisions
83 Relief for interest on loans to buy annuities.
1
In section 365(3) of the Taxes Act 1988 (loans to buy annuities)—
a
for the words “the qualifying maximum for the year of assessment", in the first place where they occur, there shall be substituted the words “
the sum of £30,000
”
; and
b
for those words, in the second place where they occur, there shall be substituted the words “
that sum
”
.
F12
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
In section 369(1A) of that Act (deductible percentage where interest payable under deduction of tax), for the words from “the percentage" to the end there shall be substituted “
23 per cent.
”
.
4
This section has effect in relation to payments of interest made on or after 6th April 2000.