Finance Act, 1999

Amendment of section 201 (exemptions and reliefs in respect of tax under section 123) of Principal Act.

14.—(1) Section 201(1)(a) of the Principal Act is hereby amended, by the substitution in the definition of “basic exemption” of “£8,000” for “£6,000” and of “£600” for “£500”.

(2) Subsection (1) shall apply and have effect as respects payments made on or after the 1st day of December, 1998.