SCHEDULES

SCHEDULE 4Tax credits, taxation of distributions etc

Part IGeneral

The Taxes Act 1988

Section 819

21

1

In section 819 of the Taxes Act 1988 (old references to standard rate tax) in subsection (2)—

a

after “(so far as applicable in accordance with section 1A) the lower rate” there shall be inserted “or the Schedule F ordinary rate”; and

b

for “any higher rate” there shall be substituted “the higher rate and the Schedule F upper rate”.

2

This paragraph has effect for the year 1999-00 and subsequent years of assessment.