Income Tax Act 2007 (c. 3)

SCHEDULES

SCHEDULE 2 Transitionals and savings

Part 3 Rates at which income tax is charged

12 In relation to the tax year 2007-08 or any subsequent tax year—

(a) references in an enactment, instrument or document to the lower rate are to be read as references to the savings rate, and

(b) references in an enactment, instrument or document to the rate applicable to trusts are to be read as references to the trust rate.