Part 1Charges, rates, allowances, reliefs etc
Income tax
5Abolition of starting and savings rates and creation of starting rate for savings
1
Section 6 of ITA 2007 (rates at which income tax is charged) is amended as follows.
2
In subsection (1), omit paragraph (a).
3
In subsection (2), omit “starting rate,”.
4
In subsection (3), for paragraph (a) substitute—
a
section 7 (starting rate for savings),
5
Accordingly, in the heading omit “starting rate,”.
6
The amendments made by this section have effect for the tax year 2008-09 and subsequent tax years.
7
Schedule 1 contains provision in connection with—
a
the abolition of the starting rate and the savings rate, and
b
the creation of the starting rate for savings.