PART IIIIncome Tax, Corporation Tax and Capital Gains Tax
CHAPTER IGeneral
38Retirement annuity relief: older contributors
(1)
In subsection (4) of section 228 of the Taxes Act (relief for premiums under retirement annuity contracts limited by reference to percentage of earnings dependent upon age) the words " Subject to subsection (5) below " shall be omitted and for the Table set out in that subsection there shall be substituted the following Table: —
“TABLE
Year of birth
Percentage
1916 to 1933
20
1914 or 1915
21
1912 or 1913
24
1910 or 1911
26½
1908 or 1909
29½
1907
32½ "”
(2)
Subsection (5) of the said section 228 (which restricts relief in relation to any year in which the individual concerned benefits from pensionable employment) shall cease to have effect.
(3)
This section has effect for the year 1982-83 and subsequent years of assessment.