Finance Act 1982 (c. 39)

PART III Income Tax, Corporation Tax and Capital Gains Tax

CHAPTER I General

20 Charge of income tax for 1982-83

(1) Income tax for the year 1982-83 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 £12,800 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 £6,250 at the additional rate of 15 per cent.

Part of excess over £12,800	Higher rate
The first £2,300	40 per cent.
The next £4,000	45 per cent.
The next £6.200	50 per cent.
The next £6,200	55 per cent.
The remainder	60 per cent.

(2) Section 24(4) of the [1980 c. 48.] Finance Act 1980 (increase of basic rate limit, higher rate bands and investment income threshold) shall not apply for the year 1982-83.