Finance Act 1976

29 Alteration of personal reliefs

(1) In section 8 of the Taxes Act (personal reliefs)—

(a) in subsection (1)(a) (married) for " £955 " there shall be substituted " £1,085 " ;

(b) in subsections (1)(b) (single) and (2) (wife's earned income relief) for " £675 " there shall be substituted " £735 ";

(c) in subsections (1A) and (1B) (age allowance) for " £1,425 ", " £950 " and " £3,000 " there shall be substituted " £1,555 " , "£1,010" and "£3,250" respectively.

(2) In the year 1976-77 only, the allowances set out in section 10(3) of the Taxes Act (children) shall be amended as follows—

(a) in paragraph (a) (child over 16) for " £305 " there shall be substituted " £365 ";

(b) in paragraph (b) (child over 11 but not over 16) for " £275 " there shall be substituted " £335 ";

(c) in paragraph (c) (child not over 11) for " £240 " there shall be substituted " £300 ".

(3) In section 10(5) of that Act (restriction of relief where child has income exceeding £115) for " £115 " there shall be substituted " £350 " and at the end of the proviso there shall be inserted the words " and that in the case of a child who—

(a) is under the age of eighteen at the end of the year of assessment and is unmarried throughout that year; and

(b) either has no earned income or has earned income not exceeding £235,

this subsection shall have effect with the substitution for the words " income exceeding £350 " of the words " investment income (that is to say, income other than earned income) exceeding £115 ".

(4) In section 14(2) and (3) of that Act (additional relief for widows and others in respect of children) for " £280 " there shall be substituted " £350 ".

(5) In section 14(2)(a) of that Act (relief available only for claimant entitled to relief under section 10 in respect of a child resident with him) after the words " resident with him " there shall be inserted the words " or would be so entitled apart from subsection (5) of that section ".