The Income Tax (Indexation) Order 2013
| Jurisdiction | UK Non-devolved |
| Citation | SI 2013/3088 |
| Year | 2013 |
2013 No. 3088
Income Tax
The Income Tax (Indexation) Order 2013
Made 5th December 2013
The Treasury make the following Order in exercise of the powers conferred by sections 21(5) and 57(6) of the Income Tax Act 20071:
Citation and interpretation
1.—(1) This Order may be cited as the Income Tax (Indexation) Order 2013.
(2) In this Order references to sections are references to sections in the Income Tax Act 2007.
Indexation of the rate limits for the tax year 2014-15
2. For the tax year 2014-15—
(a) the amount specified in section 10(5) (basic rate limit)2is replaced with “£33,100”;
(b) the amount specified in section 12(3) (starting rate limit for savings)3is replaced with “£2,880”.
Indexation of allowances for the tax year 2014-15
3. For the tax year 2014-15—
(a) the amount specified in section 35(1) (personal allowance for those born after 5 April 1948)4is replaced with “£9,740”;
(b) the amount specified in section 38(1) (blind person’s allowance)5is replaced with “£2,230”;
(c) the amount specified in section 43 (tax reductions for married couples and civil partners: the minimum amount)6is replaced with “£3,140”;
(d) the amount specified in section 45(3)(a) (marriages before 5 December 2005: married couple’s allowance)7is replaced with “£8,165”;
(e) the amount specified in section 46(3)(a) (marriages and civil partnerships on or after 5 December 2005: married couple’s allowance)8is replaced with “£8,165”;
(f) the amount specified in each of sections 36(2), 37(2), 45(4) and 46(4) (adjusted net income limit)9is replaced with “£27,000”.
Mark Lancaster
Sam Gyimah
Two of the Lords Commissioners of Her Majesty’s Treasury
5th December 2013
EXPLANATORY NOTE
(This note is not part of the Order)
For the tax year 2014-15 this Order replaces certain amounts specified in the Income Tax Act 2007 (c. 3)with increased amounts. In accordance with the method provided by sections 21 and 57 of that Act, the increases are calculated by reference to the increase in the retail prices index. Where the retail prices index for the September before the start of the tax year is higher than it was for the previous September, an order must be made replacing those amounts. The retail prices index has increased and this Order sets out the new rate limits and allowances for the tax year 2014-15.
Increases...
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