SCHEDULES

SCHEDULE 1 U.K.Abolition of starting and savings rates and creation of starting rate for savings

Part 2 U.K.Other amendments

ITTOIA 2005 U.K.

62 (1) Section 680A (income treated as savings income or dividend income) is amended as follows. U.K.

(2) In subsection (1)—

(a) for “Subsections (2) and (3) apply” substitute “ Subsection (3) applies ”, and

(b) omit “the savings rate or”.

(3) Omit subsection (2).

(4) In subsection (3), for the words from the beginning to “it” substitute “ The income ”.

(5) In subsection (4)—

(a) for “Subsections (5) and (6) apply” substitute “ Subsection (6) applies ”, and

(b) omit “the savings rate or”.

(6) Omit subsection (5).

(7) In subsection (6), for the words from the beginning to “it” substitute “ The income ”.

(8) Accordingly, in the heading omit “savings income or”.