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12 Income Tax (Personal Reliefs)

Volume 130: debated on Monday 21 March 1988

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Resolved,

That—
  • (1) In section 257 of the Income and Corporation Taxes Act 1988 (personal reliefs)—
  • (a) in subsection (1)(a) (married allowance) for "£3,795" there shall be substituted "£4,095";
  • (b) in subsections (1)(b) (single allowance) and (6) (wife's earned income relief) for "£2,425" there shall be substituted "£2,605";
  • (c) in subsection (2)(a) (married allowance: age 65 to 79), for "£4,675" there shall be substituted "£5,035";
  • (d) in subsection (2)(b) (single allowance: age 65 to 79), for "£2,960" there shall be substituted "£3,180";
  • (e) in subsection (3)(a) (married allowance: age 80 and over), for "£4,845" there shall be substituted "£5,205";
  • (f) in subsection (3)(b) (single allowance: age 80 and over), for "£3,070" there shall be substituted "£3,310";
  • (g) in subsection (5) (income limit for age allowance), for "£9,800" there shall be substituted "£10,600".
  • (2) Section 257(9) of that Act (indexation) shall not apply for the year 1988–89.
  • (3) This Resolution shall not require any change to be made in the amounts deductible or repayable under section 203 of that Act (pay as you earn) before 15th June 1988.
  • And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.—[Mr. Lawson.]