Income Tax (Indexation) Order 1999

Cited as:SI 1999/597
Jurisdiction:UK Non-devolved

1999No. 597

INCOME TAX

The Income Tax (Indexation) Order 1999

9thMarch1999

The Treasury, in pursuance of sections 1(6) and 257C(3) of the Income and Corporation Taxes Act 1988( a), hereby make the following Order:

1. This Order may be cited as the Income Tax (Indexation) Order 1999.

2. - (1) The amounts which, unless Parliament otherwise determines, will be treated by virtue of sections 1(4)( b), 257C(1) and 265(1A) of the Income and Corporation Taxes Act 1988 as specified for the year 1999-00 in sections 1(2)( c), 257(2), (3) and (5) 257A( d) and 265( e) of that Act are set out in paragraphs (2) to (5).

(2) In section 1(2) of the said Act (the charge to income tax) -

(a) in paragraph (aa) (lower rate limit) - £4,500;(b) in paragraph (b) (basic rate limit) - £28,000.

(3) In section 257 of the said Act (personal allowance) -

(a) in subsection (2) (personal allowance - age 65 to 74) - £5,590;(b) in subsection (3) (personal allowance - age 75 and over) - £5,780;(c) in subsection (5) (income limit for age-related allowances) - £16,800.

(4) In section 257A of the said Act (married couple's allowance) -

(a) in subsection (1) (married couple's allowance) - £1,970;(b) in subsection (2) (married couple's allowance - age 65 to 74) - £5,125;(c) in subsection (3) (married couple's allowance - age 75 and over) - £5,195;(d) in subsection (5) (income limit for age-related allowances) - £16,800.

(5) In section 265(1) of the said Act (blind person's allowance) - £1,380.

David Jamieson

Jim Dowd

Two of the Lords Commissioners of Her Majesty's Treasury

9th March 1999

EXPLANATORY NOTE

(This note is not part of the Order)

Sections 1(6) and 257C(3) of the Income and Corporation Taxes Act 1988 ("the Act") operate to provide that the Treasury shall by order made by statutory instrument before 6th April 1999 specify the amounts which by virtue of those sections shall, unless Parliament otherwise determines, be treated as specified for the year 1999-00.

This Order specifies the relevant amounts for the purposes of section 1(2) (lower rate and basic rate limits), section 257(2), (3) and (5) (personal allowances for persons of 65 or more), section 257A (married couple's allowance) and section 265(1) (blind person's allowance) of the Act for the year 1999-00. The relevant amount for the purposes of section 257(1) of the Act (basic personal allowance) was specified by the Income Tax (Indexation) (No. 2) Order 1998 (S.I. 1998/2704).

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