Textual Amendments
F1Words in Pt. 8 Ch. 4 heading omitted (with effect in accordance with s. 15(5) of the amending Act) by virtue of Finance Act 2013 (c. 29), s. 15(4)(c)
(1)This section applies to a payment made in a tax year if—
(a)the person who makes it is an individual,
(b)a sum representing income tax is required by section 900(2) F2... (deduction from annual payments F2...) to be deducted from it, and
(c)the payment is not deductible in calculating the individual's income from any source.
(2)The individual is entitled to relief for the tax year equal to the gross amount of the payment.
(3)But this is subject to the restrictions in subsection (4) F3....
(4)The total amount of relief given under this section to an individual for a tax year cannot be greater than the amount of the individual's modified net income for the tax year (see section 1025).
(5)The relief is given by deducting the amount of the relief in calculating the individual's net income for the tax year (see Step 2 of the calculation in section 23).
Textual Amendments
F2Words in s. 448(1)(b) omitted (with effect in accordance with s. 15(5) of the amending Act) by virtue of Finance Act 2013 (c. 29), s. 15(2)
F3Words in s. 448(3) omitted (21.7.2008 with effect in accordance with s. 66(8) of the amending Act) by virtue of Finance Act 2008 (c. 9), s. 66(4)(l)(iii)
Modifications etc. (not altering text)
C1Ss. 448, 449 excluded (with effect in accordance with Sch. 18 para. 63 of the amending Act) by Finance Act 2016 (c. 24), Sch. 18 para. 20(8)