PART 1

Income tax, corporation tax and capital gains tax
CHAPTER 1

Charge, rates etc

Income tax

The starting rate for savings and the savings rate limit
3
1
In section 7 of ITA 2007 (the starting rate for savings) for “10%” substitute “ 0% ”.
2
For the tax year 2015-16 the amount specified in section 12(3) of that Act (starting rate limit for savings) is replaced with “ £5,000 ”.
3
Accordingly section 21 of that Act (indexation of limits), so far as relating to the starting rate limit for savings, does not apply for that tax year.
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
The amendments made by subsections (1) and (4) have effect for the tax year 2015-16 and subsequent tax years.
S. 3(4) omitted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 6 para. 25(d)