“(2) For an individual whose adjusted net income exceeds £100,000, the allowance under subsection (1) is reduced by one-half of the excess. (1) In section 35 of ITA 2007 (personal allowances for those aged under 65), the existing provision becomes subsection (1) of that section and after that subsection insert. 6(q) 4 Reduction of personal allowance for those with income exceeding £100,000 U.K. 7 of the commencing Act) by virtue of Finance Act 2009 (c. 3(2)(b) omitted (with effect in accordance with Sch.
(indexation) do not apply for the tax year 2009-10.į2 S. (a) section 57 of ITA 2007, so far as relating to the amount specified in section 35 of that Act, F2.į2(b). (personal allowance for those aged under 65) is replaced with “£6,475”. (1) For the tax year 2009-10 the amount specified in-į1(b). 3 Personal allowance for 2009-10 for those aged under 65 U.K. (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. (1) For the tax year 2009-10 the amount specified in section 10(5) of ITA 2007 (basic rate limit) is replaced with “£37,400”. (1) Income tax is charged for the tax year 2009-10.
Charges, rates, allowances, etc Income tax U.K.
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