Finance Act, 1983


Income Tax, Income Levy, Corporation Tax and Capital Gains Tax

Chapter I

Income Tax

Amendment of section 1 (exemption from income tax) of Finance Act, 1980.

1.Section 1 of the Finance Act, 1980 , is hereby amended, as respects the year 1983-84 and subsequent years of assessment, by the substitution in subsection (2) of “£4,800” for “£4,400” (inserted by the Finance Act, 1982 ) and of “£2,400” for “£2,200” (inserted by the Finance Act, 1982 ), and the said subsection (2), as so amended, is set out in the Table to this section.


(2) In this section “the specified amount” means—

(a) in a case where the individual would, apart from this section, be entitled to a deduction specified in section 138 (a) of the Income Tax Act, 1967 , £4,800, and

(b) in any other case, £2,400.