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Amendment of section 473 (allowance for rent paid by certain tenants) of Principal Act.
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13.— As respects the year of assessment 2000-2001 and subsequent years of assessment, section 473 of the Principal Act is amended—
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(a) in subsection (1)—
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(i) by the insertion of the following definition before the definition of “residential premises”:
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“‘appropriate percentage’, in relation to a year of assessment, means a percentage equal to the standard rate of tax for that year;”, and
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(ii) by the insertion of the following definition before the definition of “tenancy”:
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“‘the specified limit’, in relation to an individual for a year of assessment, means—
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(a) in the case of a married person assessed to tax in accordance with section 1017, £1,500; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘the specified limit’ means £4,000,
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(b) in the case of a widowed person, £1,125; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘the specified limit’ means £3,000, and
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(c) in any other case, £750; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘the specified limit’ means £2,000;”,
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(b) by the substitution of the following subsection for subsection (2):
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“(2) Where an individual (in this section referred to as the ‘claimant’) proves that in the year of assessment he or she has made a payment on account of rent in respect of residential premises which, during the period in respect of which the payment was made, was his or her main residence, the income tax to be charged on the claimant, other than in accordance with section 16(2), for that year of assessment shall be reduced by an amount which is the least of—
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(a) the amount equal to the appropriate percentage of the aggregate of such payments proved to be so made,
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(b) the appropriate percentage of the specified limit in relation to the claimant for the year of assessment, and
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(c) the amount that reduces that income tax to nil.”,
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(c) by the substitution of the following subsection for subsection (3):
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“(3) For the purposes of this section, where a claimant is a married person assessed to tax for the year of assessment in accordance with section 1017, any payments made by the claimant's spouse, in respect of which that spouse would have been entitled to relief under this section if he or she were assessed to tax for the year of assessment in accordance with section 1016 (apart from subsection (2) of that section), shall be deemed to have been made by the claimant.”,
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(d) by the substitution of the following subsection for subsection (10):
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“(10) Any relief under this section shall be in substitution for and not in addition to any relief to which the claimant might be entitled in respect of the same payment under any other provision of the Income Tax Acts.”,
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and
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(e) in the Table to section 458—
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(i) by the deletion of “Section 473(2)” from Part 1, and
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(ii) by the substitution in Part 2 of “Section 473” for “Section 473(3)”.
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