SCHEDULES
SCHEDULE 2Income tax rates
Part 1Amendments of ITA 2007
4
1
Section 10 (income charged at basic and higher rates: individuals) is amended as follows.
2
In subsection (3), insert at the end “and up to the higher rate limit.”
3
After that subsection insert—
3A
Income tax is charged at the additional rate on an individual's income above the higher rate limit.
4
After subsection (5) insert—
5A
The higher rate limit is £150,000.
5
In subsection (6), for “is” substitute “
and higher rate limit are
”
.
6
In the heading, for “and higher” substitute “
, higher and additional
”
.