PART VE+W+SINCOME AND CAPITAL

Modifications etc. (not altering text)

[F1CHAPTER IVAE+W+SPARTICIPANTS IN THE SELF-EMPLOYMENT ROUTEF2...

Textual Amendments

Deduction in respect of tax for participants in the self-employment routeF3...E+W+S

39D.—(1) The amount to be deducted in respect of income tax under regulation 39C(1)(a) (calculation of income of participants in the self-employment routeF4...) in respect of the period determined under regulation 39C(2) shall be calculated as if—

(a)the chargeable income is the only income chargeable to tax;

[F5(b)the personal reliefs applicable to the person receiving assistance under the self-employment route under Chapters 2, 3 and 3A of Part 3 of the Income Tax Act 2007 are allowable against that income;]

(c)the rate at which the chargeable income less the personal [F6reliefs] is assessable to income tax is F7... the basic rate [F8, or in the case of a Scottish taxpayer, the Scottish basic rate,] of tax.

(2) For the purpose of paragraph (1), the [F9[F10basic] rate] [F11, or the Scottish basic rate,] of tax to be applied and the amount of the [F12personal reliefs] deductible shall, where the period determined under regulation 39C(2) is less than a year, be calculated on a pro rata basis.

(3) In this regulation, “chargeable income" means the monies in the special account at the end of the last day upon which assistance was received under the self-employment route.]

Textual Amendments