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Finance Act 1981

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This is the original version (as it was originally enacted).

19Charge of income tax for 1981-82

(1)Income tax for the year 1981-82 shall be charged at the basic rate of 30 per cent.; and

(a)in respect of so much of an individual's total income as exceeds the basic rate limit at such higher rates as are specified in the Table below; and

(b)in respect of so much of the investment income included in an individual's total income as exceeds the investment income threshold at the additional rate of 15 per cent.

Higher rate bandsHigher rate
The first40 per cent.
The second45 per cent.
The third50 per cent.
The fourth55 per cent.
The fifth60 per cent.

(2)Section 24(4) of the Finance Act 1980 (increase of basic rate limit, higher rate bands and investment income threshold) shall not apply for the year 1981-82.

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