1. This Order may be cited as the Income Tax (Indexation) Order 2001.
2.—(1) The amounts which, unless Parliament otherwise determines, will be treated by virtue of sections 1(4)(1), 257C(1) and 265(1A) of the Income and Corporation Taxes Act 1988 as specified for the year 2001–02 in sections 1(2)(2) and 265(3) of that Act are set out in paragraphs (2) and (3).
(2) In section 1(2) of the said Act (the charge to income tax)—
(a)in paragraph (aa) (starting rate limit)—£1,580;
(b)in paragraph (b) (basic rate limit)—£29,400.
(3) In section 265(1) of the said Act (blind person’s allowance)—£1,450.
Jim Dowd
Greg Pope
Two of the Lords Commissioners of Her Majesty’s Treasury
7th March 2001