Finance (No. 2) Act 1983

1 Basic rate limit, higher rate bands and investment income threshold

For the year 1983-84 income tax shall be charged—

(a) in respect of so much of an individual's total income as exceeds £14,600 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 £7,100 at the additional rate of 15 per cent.

TABLE

Part of excess over £14,600	Higher rate
The first £2,600	40 per cent.
The next £4,600	45 per cent.
The next £7,100	50 per cent.
The next £7,100	55 per cent.
The remainder	60 per cent.;

and subsection (1) of section 32 of the [1971 c. 68.] Finance Act 1971 (charge of income tax) shall have effect accordingly.