SCHEDULES

SCHEDULE 1Minor and consequential amendments

Part 1Income and Corporation Taxes Act 1988

32(1)Amend section 257BA (elections as to transfer of relief under section 257A or 257AB) as follows.

(2)For subsections (1) to (3) substitute—

(1)An individual may elect that for any year of assessment for which the individual’s spouse or civil partner is entitled to a tax reduction under section 257A or 257AB—

(a)the individual shall be entitled (on making a claim) to a tax reduction calculated by reference to half the minimum amount, and

(b)the spouse or civil partner’s appropriate amount shall be reduced by half the minimum amount.

(2)An individual and the individual’s spouse or civil partner may jointly elect that for any year of assessment for which the individual is entitled to a tax reduction under section 257A or 257AB—

(a)the individual’s spouse or civil partner shall be entitled (on making a claim) to a tax reduction calculated by reference to the minimum amount, and

(b)the individual’s appropriate amount shall be reduced by the minimum amount.

(3)An individual may elect that for any year of assessment for which the individual’s spouse or civil partner is entitled to a tax reduction by virtue of an election under subsection (2) above—

(a)the individual shall be entitled (on making a claim) to a tax reduction calculated by reference to half the minimum amount (in addition to any tax reduction to which the individual is already entitled under section 257A or 257AB), and

(b)the tax reduction to which the spouse or civil partner is entitled by virtue of that election shall be calculated by reference to half the minimum amount (instead of by reference to the minimum amount).

(3)After subsection (3) insert—

(3A)In this section “the appropriate amount” means the amount by reference to which the calculation of the tax reduction is to be made.

(4)Omit subsection (6).

(5)In subsection (9) for “income tax reduction” substitute “tax reduction”.

(6)After subsection (9) insert—

(10)A tax reduction under this section is given effect at Step 6 of the calculation in section 23 of ITA 2007.