Finance Act, 1994

Amendment of section 101 (income exemption limit) of Act of 1983.

119.—Section 101 of the Act of 1983 is hereby amended—

(a) by the insertion of the following proviso to subsection (1):

“Provided that the income of a relevant person (other than a person who is an assessable person) shall be disregarded in computing aggregate relevant income—

(a) where, in relation to a valuation date, a unit of residential property is comprised in the relevant residential property of one or more persons, and—

(i) any of those persons has attained the age of 65 years, or

(ii) any of those persons is permanently incapacitated by reason of mental or physical infirmity from maintaining himself and the relevant person resides in the unit of residential property as a consequence of that infirmity;

(b) where, in relation to a valuation date, the assessable person is a widowed person and the relevant

person resides in the relevant residential property as a consequence of the assessable person having a qualifying child.”,

and

(b) by the substitution in subsection (2) of “£25,000” for “£27,500” (inserted by the Finance Act, 1992 ) and of “1994” for “1992” (as so inserted).