PART 1Income tax, corporation tax and capital gains tax
CHAPTER 1Charge, rates etc
Income tax
4Basic rate limit from 2016
(1)
The amount specified in section 10(5) of ITA 2007 (basic rate limit) is replaced—
(a)
for the tax year 2016-17, with F1“£32,000”, and
(b)
for the tax year 2017-18, with F2“£33,500”.
(2)
Accordingly, for those tax years section 21 of that Act (indexation of limits), so far as relating to the basic rate limit, does not apply.