Statutory Instruments
2010 No. 2938
Income Tax
The Finance Act 2010, Section 23 and Schedule 2 (High Income Excess Relief Charge) (Repeal) Order 2010
Made
9th December 2010
Coming into force
10th December 2010
The Treasury make the following Order in exercise of the power conferred by section 5 of the Finance (No. 2) Act 2010(1):
Citation and commencement
1. This Order may be cited as the Finance Act 2010, Section 23 and Schedule 2 (High Income Excess Relief Charge) (Repeal) Order 2010 and comes into force on the day after the day on which it is made.
Repeal of high income excess relief charge
2. Section 23 of, and Schedule 2 to, the Finance Act 2010(2) (high income excess relief charge) are repealed.
Michael Fabricant
Angela Watkinson
Two of the Lords Commissioners of Her Majesty’s Treasury
9th December 2010
EXPLANATORY NOTE
(This note is not part of the Order)
This Order repeals section 23 of, and Schedule 2 to, the Finance Act 2010. Those provisions would have amended Part 4 of the Finance Act 2004 (c.10), with effect for the tax year 2011–2012 and subsequent tax years, to introduce a restriction of pension tax relief to the basic rate for high income individuals.
A full Impact Assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.