|
|
|
Amendment of section 480B of Principal Act (relief arising in special circumstances)
|
| |
12. (1) Section 480B of the Principal Act is amended—
|
|
| |
(a) in subsection (3), by the substitution of “472B, 472BA and 472BB” for “472B and 472BA”,
|
|
| |
(b) by the insertion of the following subsection after subsection (10):
|
|
| |
“(10A) Subject to subsection (11), where section 466A applies, the amount of the threshold specified in subsection (6)(a) of that section (in this subsection referred to as the ‘monetary threshold’) shall be increased by—
|
|
| |
(a) one fifty-second of the monetary threshold, where the individual concerned is paid weekly and is so paid on the relevant date, or
|
|
| |
(b) one twenty-sixth of the monetary threshold, where the individual concerned is paid fortnightly and is so paid on the relevant date,
|
|
| |
but the amount of any such increase shall not exceed the amount of the emoluments paid to the individual on the relevant date.”,
|
|
| |
and
|
|
| |
(c) in subsection (11), by the substitution of “subsection (10) or (10A), in a case in which either of those subsections applies,” for “subsection (10)”.
|
|
| |
(2) Subsection (1) applies for the year of assessment 2023 and each subsequent year of assessment.
|
