Finance Act, 1999

Chapter 2

Income Tax

Amendment of provisions relating to exemption from income tax.

2.—As respects the year of assessment 1999-2000 and subsequent years of assessment, Chapter 1 of Part 7 of the Principal Act is hereby amended—

(a) in section 187, by the substitution, in subsection (1), of the following for paragraph (a):

“(a) in the case of an individual referred to in paragraph (a) of the definition of ‘specified amount’ in section 461(1) (inserted by the Finance Act, 1999), £8,200, and”,

and

(b) in section 188, by the substitution of the following for subsection (2):

“(2) In this section, ‘the specified amount’ means, subject to section 187 (2)—

(a) in the case of an individual referred to in paragraph (a) of the definition of ‘specified amount’ in section 461(1) (inserted by the Finance Act, 1999), £13,000, and

(b) in any other case £6,500.”.