Finance Act, 1984
PART I Income Tax, Income Levy, Corporation Tax and Capital Gains Tax | ||
Chapter I Income Tax | ||
Amendment of provisions relating to exemption from income tax. |
1.—As respects the year 1984-85 and subsequent years of assessment, the Finance Act, 1980 , is hereby amended— | |
(a) in subsection (2) of section 1 , by the substitution of “£5,000” for “£4,800” (inserted by the Finance Act, 1983 ) and of “£2,500” for “£2,400” (inserted by the Finance Act, 1983 ), and | ||
(b) in subsection (6) of section 2 , by the substitution of “£5,600” for “£5,000” (inserted by the Finance Act, 1982 ), of “£6,600” for “£6,000” (inserted by the Finance Act, 1982 ), of “£2,800” for “£2,500” (inserted by the Finance Act, 1982 ) and of “£3,300” for “£3,000”(inserted by the Finance Act, 1982 ), | ||
and the said subsections (2) and (6), as so amended, are set out in the Table to this section. | ||
TABLE | ||
(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 , £5,000, and | ||
(b) in any other case, £2,500. | ||
(6) 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 paragraph (a) of the said section 138, £5,600: | ||
Provided that, if at any time during the year of assessment either the individual or his spouse was of the age of seventy-five years or upwards, “the specified amount” means £6,600; | ||
(b) in any other case, £2,800: | ||
Provided that, if at any time during the year of assessment the individual was of the age of seventy-five years or upwards, “the specified amount” means £3,300. |