Finance (No. 2) Act 2023

Order in which basic amounts are treated as paid from aggregate income

9 In section 962 of CTA 2009 (income from which basic amounts are treated as paid)—

(a) in subsection (3), for the words “in the following order” to the end of paragraph (b) substitute “in descending order, starting with the income bearing income tax at the highest rate and ending with the income bearing income tax at the lowest rate”;

(b) in subsection (4), for “treated under section 963 as bearing income tax” substitute “within section 963”.