Finance Act, 1974

Amendment of section 142 of Income Tax Act, 1967.

7.Section 142 (1) of the Income Tax Act, 1967 , is hereby amended by the substitution of “£489” for “£407” (inserted by the Finance Act, 1973 ) in both places where it occurs, by the substitution of “£80” for “£60”, in both places where it occurs, and by the substitution of “£409” for “£347” (inserted by the said Finance Act, 1973 ) and the said section 142 (1), as so amended, is set out in the Table to this section.

TABLE

142.—(1) If the claimant proves that he maintains at his own expense any person, being a relative of his or of his wife who is incapacitated by old age or infirmity from maintaining himself, or his or his wife's widowed mother, whether incapacitated or not, and being a person whose total income from all sources is less than £489 a year, he shall be entitled to a deduction of £80 in respect of each person whom he so maintains, and a like deduction shall be made in the case of a claimant who, by reason of old age or infirmity, is compelled to depend upon the services of a person (being a person whose total income from all sources is less than £489 a year and being a son or daughter of the claimant) resident with and maintained by him or her:

Provided that each of the foregoing provisions of this subsection shall have effect, in a case in which the total income from all sources of the person in respect of whom the deduction is to be made exceeds £409 a year, as if, instead of specifying a deduction of £80, it specified a deduction of that amount reduced by the amount of the excess.