Finance Act 2012 (c. 14)

PART 1 U.K. Income tax, corporation tax and capital gains tax

CHAPTER 1 U.K. Income tax and corporation tax charges and rate bands

Income tax U.K.

2 Basic rate limit for 2012-13 U.K.

(1) For the tax year 2012-13 the amount specified in section 10(5) of ITA 2007 (basic rate limit) is replaced with “ £34,370 ”.

(2) Accordingly section 21 of that Act (indexation of limits), so far as relating to the basic rate limit, does not apply for that tax year.