Income and Corporation Taxes Act 198854

1

Amend section 257BB (transfer of relief under section 257A where relief exceeds income) as follows.

2

In subsection (1) —

a

in paragraph (a) —

i

for “a man” substitute “an individual”, and

ii

after “257A” insert “or 257AB”,

b

in paragraph (b) —

i

for “he” substitute “the individual”, and

ii

for “his” substitute “the individual's”, and

c

in the words following paragraph (b) —

i

for “his wife” substitute “the individual’s spouse or civil partner”,

ii

for “she” substitute “that spouse or civil partner”,

iii

for “her husband's” substitute “the individual's”, and

iv

after “257A” insert “or 257AB”.

3

In subsection (2), for “husband” substitute “spouse or civil partner”.

4

In subsection (3) —

a

in paragraph (a), for “a woman” substitute “an individual”,

b

in paragraph (b) —

i

for “she” substitute “the individual”, and

ii

for “her” substitute “the individual's”, and

c

in the words following paragraph (b) —

i

for “her husband” substitute “the individual’s spouse or civil partner”,

ii

for “he” substitute “that spouse or civil partner”,

iii

after “257A” insert “or 257AB”, and

iv

for “his wife's” substitute “the individual's”.

5

In subsection (4), for “wife” substitute “spouse or civil partner”.

6

In the heading, after “257A” insert “or 257AB”.