Finance Act, 1973


Income Tax, Sur-Tax and Corporation Profits Tax

Chapter I

Income Tax

Amendment of section 129 of Income Tax Act, 1967.

1.—(1) Section 129 of the Income Tax Act, 1967 , is hereby amended by the addition of the following:

“Provided that if the amount of the interest as so calculated is less than £5, the amount of interest payable shall be £5.”.

(2) Subsection (1) shall have effect in relation to interest chargeable for any month commencing on or after the date of the passing of this Act, or any part of such a month, on tax for the transmission of which an employer is or was liable whether before, on or after such date.